Final answer:
Compression is the process of reducing the number of bits needed to represent something without losing any information, and it is reversible.
Step-by-step explanation:
Compression is the process that involves reducing the number of bits needed to represent something without losing any information, and it is reversible. Compression is often used to make file sizes smaller while maintaining as much quality and detail as possible. One common example is JPEG compression for photo files, where colors that are not necessary are discarded to reduce the file size.