In the Camera Raw dialog, you can perform preliminary adjustments and modifications to a raw image before editing it in Photoshop Elements. With the Preview option enabled, you can see how the modified image appears.
The options available include sliders to modify the attributes of the image. For example, you can change the exposure, brightness, clarity, and saturation and vibrance. The number of options available to modify the image also depends on the Process Version used. For example, some sliders like Shadows and Whites that appear while using Process Version 2012 do not appear when Process Version 2010 is used. Likewise, the Fill Light slider that appears when Process Version 2010 is used does not appear when Process Version 2012 is used.