Data compression is an art used to reduce the number of bits required to transmit the data of particular information. The goal of data compression is to eliminate the redundancy in a data in order to reduce its size. Data compression can either be lossless or lossy. Lossless data compression recreates the exact original data from the compressed data while lossy data compression cannot regenerate the perfect original data from the compressed data. The relevance and importance of data compression has shown a growing trend from the past few years and is expected to continue remaining the same in the coming time.