(Quoted from Sign & Digital Graphics. Full article here.)
What are graphic formats? What’s the difference between them, and how do you know which one to choose when saving an image? JPG, TIFF, EPS, PDF, GIF and PNG, are some common extensions at the end of a file name that represent how a digital image is encoded. Compression schemes found in each format offer key features that affect the efficiency of a file and sometimes even how an image appears.
There are essentially two types of compression schemes: lossless and lossy. Lossless compression algorithms preserve all of the binary information. When the image is saved and then reopened, there is no loss of image quality. Lossy compression algorithms, while efficiently reducing file size, may compromise image quality.
Here are descriptions of the most common graphic formats that are likely to be encountered in a normal graphics environment and when you might consider choosing them.
Click here to read the full article from Sign & Digital Graphics!