This panel provides many options for rendering, increasing and optimizing your render and output speed, and the location for displaying and saving your render output. The options on this panel control where and how the results of a render are handled.
There are many image formats out there for many different uses. A format stores an image in a lossless or lossy format; with lossy formats you suffer some image degradation but save disk space because the image is saved using fewer bytes. Let's learn more about it...shall we?
Once you have mastered the trick of animation you will surely start to produce wonderful animations, encoded with your favourite codecs, and possibly you'll share them on the Internet with the rest of the community.