Files with DWG extension represent proprietary binary files used for containing 2D and 3D design data. Like DXF, which are ASCII files, DWG represents the binary file format for CAD (Computer Aided Design) drawings. It contains a vector image and metadata for the representation of the contents of CAD files.
Files with ODP extension represents the presentation file format used by OpenOffice.org in the OASIS OpenDocument standard. A presentation file is a collection of slides where each slide can comprise text, images, formatting, animations, and other media. These slides are presented to an audience in the form of slideshows with custom presentation settings.
You can also convert DWG into many other file formats. Please see the complete list below.