What does “data rate” means in digital camera video recording?

My canon sx100 IS digital camera has two options for video recording.

1. Normal mode
2. LP mode

LP mode enables to record twice as much video then normal mode.

I recorded on both mode and found following information when I checked the video file properties.

Normal mode: Data Rate 14884kbps
LP mode: Data Rate 7384kbps

Does lower data rate means poor quality video then higher data rate?

By: MD R

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Business Marketing