1. Data compression involves removing redundancy from data to reduce its size. It can be applied to text, images, sound, and video.
2. There are two main types of compression: lossless, which allows exact reconstruction of the original data, and lossy, which results in some loss of data quality in exchange for greater compression.
3. Effective data compression requires modeling the characteristics and patterns in the data to find an efficient representation that removes redundancy, followed by encoding the data based on the model.