Files with DWG extension represent proprietary binary files used for containing 2D and 3D design data. Like DXF, which are ASCII files, DWG represent the binary file format for CAD (Computer Aided Design) drawings. It contains vector image and metadata for representation of contents of CAD files.
TIFF or TIF, Tagged Image File Format, represents raster images that are meant for usage on a variety of devices that comply with this file format standard. It is capable of describing bilevel, grayscale, palette-color and full-color image data in several color spaces. It supports lossy as well as lossless compression schemes to choose between space and time for applications using the format.
You can also convert DWG into many other file formats. Please see the complete list below.