Raw data and product files
I always record to a .WAV file which I will call my raw data. Before I do any software manipulation to clean or process the .wav file, I make a copy to CD. I used to save the .wav file as a data file but recently I have been saving them as .flac files since that performs lossless compacting (not unlike a .zip file for data) and makes for fewer storage CDs. Then, after the software manipulation, I save it as an audio CD (formally, it is a redstone format, if I remember correctly)which I think of as my product file.