To change data in a file or database or to upgrade software to a new version.
Update and Edit
The terms "update" and "edit" are used synonymously to make changes to text, data, images and video. "Update" is also used to change the source code of software.
Update and Upgrade
The terms "update" and "upgrade" are used synonymously to refer to installing new versions of software. However, "update" refers to changes within the same version, while "upgrade" means switching to an entirely new version (upgrades are huge updates). Examples are: "I kept updating the free version, but I decided to upgrade to the premium version." "Microsoft kept updating Windows 7 but I finally upgraded to Windows 8." See edit