Creating an ERD requires the identification of entities, attributes, relationships, and constraints. Entities are objects or concepts that store data, such as customers or products, and they are usually represented by rectangles with names. Attributes are the properties of each entity, like name or address, and they are typically represented by ovals or ellipses with names. Relationships are the associations between entities, like one-to-one or many-to-many, and they are usually represented by diamonds or lines with names and cardinalities. Constraints are the rules that apply to the data, like primary keys or uniqueness, and they are usually symbolized on attributes or relationships. Different types of ERDs exist depending on the level of abstraction and detail, such as conceptual or logical. Additionally, there are various notations and standards to choose from, such as Chen, Crow's Foot, or UML.