The storage part is modelled here with SR-latch, but in reality it is an electronics circuit made up of transistors.
The memory consttucted with the help of transistors is known as semiconductor memory. The semiconductor memories are termed as Random Access Memory(RAM), because it is possible to access any memory location in random.
Depending on the technology used to construct a RAM, there are two types of RAM -
SRAM: Static Random Access Memory.
DRAM: Dynamic Random Access Memory.