Data Compression. What is Data Compression?. Wisegeek.com defines Data Compression as:
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“Data compression is a general term for a group of technologies that encode large files in order to shrink them down in size. The purpose is two-fold. Smaller files take up less room, leaving more storage real-estate. Also, smaller files are faster to transfer over a network, whether that network is the Internet, an intranet, or a local area network (LAN).”
Make Data smaller using pattern recognizing algorithms
Explanation of Lossy Compression from the wise geeks:
a type of data compression in which actual information is lost. This means that after reconstructing the data from the information available, one winds up with something less than was in the original file. Generally, the goal is to use lossy compression such that there is not much observable loss in the final product.
Compresses more than the lossless compression algorithms