What are the advantages of lossless compression?

Related questions

1. Is JPG or PNG higher resolution?
2. What is redshift distribution key?
3. Is sound quality better mp3 or AAC?
4. Which mp3 format is best quality?
5. Is Tgz the same as tar GZ?
6. Is RAR safe?
7. Which is better AAC or Apple Lossless?
8. What lossless format is best?
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Tags

1. #larger
2. #quality
3. #sizes
4. #image
5. #retain
6. #advantages
7. #decreases
8. #files
9. #compression
10. #lossy
11. #disadvantages
12. #slight
13. #definitely
14. #images
15. #looking
16. #lossless