Tes, the "raw" data in this case would just be a bunch of sensor readouts from the different sensors. In order to make a useful image you would simply need a computer version of the same software that sits in the camera. The same is true for all raw converters: they do the same job as the camera would when snapping a jpeg. In this case, a bit more involved than just applying a mapping and sensor pattern filter like a normal digital camera, but still essentially the same thing.