Convert raw to psd Online: raw2psd

You can use Tom's Editor to easily convert images from
RAW Dump .RAW to Adobe Photoshop .PSD.
Tom's Editor is a free, online image manipulation and converter program.

Go to Tom's Editor

RAW

This is just raw pixels saved in a file. Format used mostly by old games. RAW files do not have any header so if you don't know what is the original width and height of the image it might be hard to decode them.

PSD

PSD is in internal image format of Adobe Photoshop. It can store all the features offered by Photoshop, like layers and paths. Images can be compressed or not.