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RAM stands for Random Access Memory and is the fastest storage that can attain very high transfer rates of data. Being an example of volatile memory, RAM loses its data when the computer is turned off and hence it requires power to access the data and hence a backup system is mostly used to backup the data. It is basically small in size and has a limited capacity of data recovery. RAM can further be classified into static RAM or dynamic RAM depending upon whether the data needs to be refreshed again and again for maintaining it or whether the data holds till the time power is off.