Transcription vs Raw Transcription

Can anyone explain the difference between the drop down “Transcription” and “raw transcription” in the transcription part of the app? It seems to shift some of the language around but I can’t tell what is driving the changes/differences.

To my initial testing, the raw transcription actually feels much more accurate than the regular transcription, so I am curious what filters or processes are being applied to the “transcription” setting.