What's the difference between bits and bytes in terms of data storage and processing?

Bits and bytes are units of digital information. A bit is the smallest unit of data and can have a value of either 0 or 1. A byte is made up of 8 bits and is used to represent a single character or symbol. In terms of data storage and processing, bits are used for basic operations and calculations, while bytes are used to store and process larger amounts of data.