This meaning refers to limited quantities, sections, or details of information or experience.
I remember only bits of the conversation.
The lecture included useful bits of advice.
In computing, bits are the smallest standard units of digital information, each having a value of zero or one.
Eight bits make one byte.
The channel transmits millions of bits per second.
This meaning refers to removable working parts fitted to drills, routers, braces, or similar tools.
The toolbox contains several drill bits.
Use sharper bits for cutting metal.
This informal meaning refers to individual sections, routines, or moments within a larger work or activity.
The comedian repeated several old bits.
My favorite bits were near the end of the film.