Today I'm coining a new phrase: RAW Management.
We all know RAW converters by now. There are many players in this field, but the dust here seems to have settled. You've got the technical approach taken by DxO, the easy-to-use approach of Phase One, the integrated approach of Camera RAW (with Photoshop) and so on.
Their entire raison d'etre is to read RAW files, manipulate them and write out JPEGs and TIFFs, for storage in another application. The days of these kinds of applications are numbered.
