(Click and drag to look around)
Your area of interest is modelized with a cloud of points, each with the original color of the object. Choose the density of your point cloud to keep control over the size of your file.
Your building or terrain is approximated with a set of triangles. Each triangle has a picture projected on it to visualize the as-is-situation.
Your building or terrain is approximated by projecting it to the ground and viewing it from above. It is like the satellite view but with a much higher resolution.
Your object is approximated with 2D raster where each point stores the height of the surface (Digital Surface Model - DSM) or the height of the terrain (Digital Terrain Model - DTM).