Georeferencing is assigning real world locations to a raster.
Here, we are referring to georeferencing scanned maps and assigning coordinates to different parts of the image. This allows you to overlay the map with other maps and data in a system that understands coordinates, such as a GIS or a web map.
Different raster formats can be used as inputs for different tools. Common choices are TIFFs and JPGs. If your image is a PDF, you may want to convert it first in Photoshop or another program from PDF to a TIFF or JPG.
Things to consider when choosing a method for georefrencing:
Mapwarper - online, serves up tiles
ArcMap
QGIS - open source, desktop GIS
ArcGIS Pro