What does the built-in property Object State (on Runtime Only Data Sources) mean?

I see that this property may be “New”, “Updated” or “Synchronized” - but what does it mean?

Runtime Only Data Sources have a built-in property called Object State. The Object State may be New (the object has never been saved to the database), Updated (the object exists in the database, but has unsaved changes, i.e. has been modified in the App) or Synchronized (this is the object state after the persist, i.e. the object changes have been saved to the database)