This document discusses different compression techniques including lossless and lossy compression. Lossless compression recovers the exact original data after compression and is used for databases and documents. Lossy compression results in some loss of accuracy but allows for greater compression and is used for images and audio. Common lossless compression algorithms discussed include run-length encoding, Huffman coding, and arithmetic coding. Lossy compression is used in applications like digital cameras to increase storage capacity with minimal quality degradation.