High Dynamic Range Photography (HDR) is a creative technique in which you combine 3, 5 or 7 images shot at different exposures, which are then merged into a single image.
The advantages are far more detail, vibrant color and control of lighting than you could ever achieve by manipulating a single JPG or RAW image in Photoshop.
In the following post Gavin Phillips will cover some of the main (yet often overlooked) aspects of HDR Photography.
Read more here,
http://www.diyphotography.net/introduction-to-high-dynamic-range-hdr-photography