Technically, the relation (value) is the set of tuples (i.e. the data itself, "the true statements", the rows in the table), the relation variable is what is defined by CREATE TABLE (i.e. how the data is constrained, "what can be true") and what most people are trying to model.

The relational data model - the set of relation variables - is thus the "equation that defines what is going on in your company" and what the DBMS puts in - the set of relation values, usually abbreviated to relations - can be seen as "the history of what happened at your company".