POST PRODUCTION is the next phase after shooting and gathering of raw materials (in production) so that it can be edited to make an output or release.
In post production you start editing, adding of effects and graphics, apply motion graphics and compositing and so on.....
Sony Vegas, Adobe Premiere and any other Video editing software has the same goal... that is to implement post production.
What differs between softwares are its capabilities to handle post production.
for instance:
Sony Vegas - you can edit videos without having to render your timeline... so more RAM is needed for caching. After you are done, you render your whole timeline for the final output and you sit and wait...and relax...The disadvantage is if you made a mistake you have to render the whole thing again. But Vegas can do pre-rendering to save you from this kind of mess.
in Premiere - if your timeline matches your video material's format you only need to render portions of your edit. A RED color indicator on top of your timeline shows portions that needs rendering, GREEN means it is rendered and GREY means it is using the videos own format. This means you need to have additional drive space to store pre-rendered files.
During the final render, any GREY and GREEN portions in you timeline will not be rendered but will just be added. So Rendering of the final output will be Faster.
There are more to just differences between video editing softwares... What is important is that you can make your final output and deliver the material on time.
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