Lossless audio compression preserves all original data, resulting in no quality loss, while lossy compression discards some data to achieve smaller file sizes, potentially leading to a noticeable degradation in audio quality. 


Examples of Lossless = .WAV, .AIFF .ALAC

Example of Lossy = .MP3 and .AAC

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Normalization adjusts the overall Volume to a target level.

Compression reduces the dynamic range by lowering the volume of the loudest parts, making the audio sound more consistent and potentially louder overall!