Rendering creates a 2D image based on your 3D scene. It shades the scene's geometry using the lighting you've set up, the materials you've applied, and environmental settings such as background and fog.
The renderer is a general-purpose renderer that generates physically correct simulations of lighting effects, including ray-traced reflections and refractions, and global illumination.
A range of standard rendering presets, reusable rendering parameters, are available. Some of the presets are tailored for relatively quick preview renderings while others are for higher quality renderings.