Format Types Explained:
JPEG (Joint Photographic Experts Group, .jpeg): Many images are stored as JPEG files because this format allows files to be compressed to take up less space. The compression technique for JPEGs is termed "lossy" meaning the decompressed file is not guaranteed to be exactly the same as the original but includes minor distortions that are often not noticeable.
GIF (Graphics Interchange Format, gif): A "lossless" compression format used for graphics. The decompressed result is exactly the same as the original.
TIFF (Tagged Image File Format, .tif): Saves an uncompressed digital reproduction. Often used in archival and medical and scientific imaging. It is often recommended to save high-quality TIFFs and then create JPEGs for general use.
SVG (Scalable Vector Graphics, .svg): allows images to be defined in a structured way.