What is speed in drilling?
The speed of a drill is measured in terms of the rate at which the outside or periphery of the tool moves in relation to the work being drilled. The common unit and term for this velocity is surface feet per minute, abbreviated sfm.
If the speed is too fast (the drill spins too quickly) the drill bit will not bite into the metal, it will just spin without cutting very much. This causes a lot of friction, which overheats the drill bit and makes it dull. If you run the drill too slow, it will just take longer to cut.
Everything matters, rpm included. You'll want higher rpm for smaller drill bits and lower rpm for larger drill bits or for taps. The most handy for general use is a drill with variable speed and two gears.
The faster a bit spins, the hotter it gets. And heat dulls bits quickly. In general, it's a good idea to drill through metal using as slow a speed as possible using a drill bit for metal. Hard metals like steel and larger drill bits require even slower speeds.
The higher the RPM, the faster it is able to turn the drill bit. The speed is usually controlled by the trigger on the drill: the harder you squeeze the trigger, the faster it will turn. This is obviously something that you adjust as you use the drill. Torque is force.
Whether you're running for fun or want to improve your PR (personal record), speed training can help you become a faster, stronger and more efficient runner.
Set the Speed.
In general, the smaller the pulley on the chuck axis, the faster it spins. A rule of thumb, as with any cutting operation, is that slower speeds are better for drilling metal, faster speeds for wood.
Drilling at too slow/low speed will usually make the job take longer and maybe the chips will not clear out fast enough, clogging the flutes. the harder the material the slower the speed, same applies to drill size.
Cutting speeds depend primarily on the kind of material you are cutting and the kind of cutting tool you are using. The hardness of the work material has a great deal to do with the recommended cutting speed. The harder the work material, the slower the cutting speed.
Power: There are two values you'll need to keep an eye out for here: voltage and torque. The general rule of thumb is that a higher voltage means a more powerful drill. Most cordless drills today are 18V, although lower (7.2V) and higher (20V) options are available.
Why do drills have 2 speeds?
The high-speed setting is intended for drilling, while the low-speed setting generates more power for tough screw-driving jobs.
For most drilling operations in wood, you will use a speed in the area of 1200 to 1500 rpm. When using “hole saws”, spade bits, or Forstner bits over 1-1/4” in diameter, you should slow the drill press down to 700rpm or less depending on the bit's diameter (larger = slower).

Speed is defined as. The rate of change of position of an object in any direction. Speed is measured as the ratio of distance to the time in which the distance was covered. Speed is a scalar quantity as it has only direction and no magnitude.
Speed is the time rate at which an object is moving along a path, while velocity is the rate and direction of an object's movement. Put another way, speed is a scalar value, while velocity is a vector.
The high-speed setting is intended for drilling, while the low-speed setting generates more power for tough screw-driving jobs.