In computing, memory refers to the state information of a computing system, as it is kept active in some physical structure.

From Wikipedia:

The term "memory" is used for the information in physical systems which are fast (i.e. RAM), as a distinction from physical systems which are slow to access (i.e. data storage). By design, the term "memory" refers to temporary state devices, whereas the term "storage" is reserved for permanent data. Advances in storage technology have blurred the distinction a bit —memory kept on what is conventionally a storage system is called "virtual memory".