Raw is a file format just as JPEG is. The difference is that jpeg is compressed and RAW isn’t.
For example. If you took a picture that had a lot of very dark in one area, jpeg would compress it all and call it black. Same with whites. Raw saves every pixel just as it is taken. This allows much more flexibility in editing.
The disadvantage of RAW is that it takes much more memory space (4x), and many programs and photo viewers will not open it.
I shoot jpeg 95% of the time, I only go to RAW if the situation has a lot of contrast(bright whites and dark blacks).
If you are shooting jpeg you will need to get your exposure spot on, as it allows much less flexibility in editing.
If you have a program that lets you work with RAW, I would advise trying it and see what you think.
Hope this helps, let me know if you have more questions.
Austin