RAM is considered volatile storage which means it is?

RAM = Random Access Memory. The memory used in a computer to hold programs and data while it is running.

This memory is said to be 'volatile' because when the computer is switched off and there is no power available to the memory all the stored information is lost.

With 'non-volatile memory' (such as used in a USB memory stick) when the power is removed the data remains as it was and can be accessed again when power is restored.