Need Help Understanding Raster to Vector Conversion – When and Why to Use It?

[nickwilliams14]

Hi everyone,
I keep hearing about Raster to Vector Conversion when it comes to logo design, screen printing, and embroidery prep—but I'm still a bit confused about when and why it's necessary.
A few questions I'm hoping the community can help me with:

1. What exactly is raster to vector conversion, and how does it work?
2. Why is vector format so important for print or embroidery projects?
3. Are there specific tools or software you'd recommend for converting files?
4. How much detail can actually be retained or improved during the conversion?
5. Is it better to outsource vector conversion or try to do it in-house?

Would really appreciate some real-world advice or experiences. I'm trying to clean up a few logos for different clients and want to make sure I'm using the right approach.
Thanks a lot!
Nick