The term memory refers to the amount of RAM installed in the computer and the storage refers to the capacity of the computer's hard disk. Memory storage devices have been drastically evolved in terms of size and capacity. The large trunks with the capacity to hold a few kilobytes of data, to microchips which are able to hold a few gigabytes of data. It is a component within your computer that allows for the short term access whereas storage is a component that allows you to store and access data on a long term basis.

• The component of the memory known as DRAM(Dynamic Random Access Memory) wherein many of the operations are performed by accessing data in short term memory. Some of the examples include editing a document, loading an application and browsing the internet.
• The storage will be in the form of solid state drive or hard drive, wherein it houses all your applications, operating system and files for an indefinite period. The speed of the storage determines how fast the system can boot up, load and access the information of what we have saved.
• If you are having a desk(limited size) and a filing cabinet, the desk represents the memory of your computer where the items which are immediately in use are kept in the desk for easy access, whereas the filing cabinet represents the storage of your computer which holds the items that needs to be saved and stored but not for the immediate access.
• Memory is cleared when the computer is turned off whereas the storage remains intact irrespective of the number of times you shut down your computer.
  ∴ When comparing with the desk and the filing cabinet analogy, any files that are left on your disk will be thrown away but the files in the filing cabinet will remain.

Memory conversion is the conversion of data from one format to another. In the whole computer environment, the data is encoded in a variety of ways. Each computer handles data in different ways. When any of these variables is changed, the data must be converted in some way before it can be used by a different computer, operating system or the program. The changing of bits from one format to another, usually for the purpose of application interoperability or of capability of using new features is possible through the Memory Conversion (Data conversion).