The format is designed for Kodak cameras to store uncompressed RAW images in their original form without auto color and white balance correction. The file has a TIFF-structure that allows you to edit the color temperature and exposure of the finished image without losing information and quality, which is something that cannot be done with JPEG format images.
This format was used to store bitmap and vector images natively on Macintosh computers. It was used for laying out and sharing images between programs. It used JPEG compression algorithms and RLE encoding. Today, the PICT format is used in the Windows environment with the PCT extension.