Does any one knows advantages in compressing the sound files

Compression of audio files allows you to fit the sound files to smaller space and still sound almost the same. There are lots of different sound compression methods in use. The general rule is that every time you compress a sound it gets worse. So if you plan to process your sound files afterward, do not use compression in you workign files. When you have made you sound ready, then make a compressed version of ready sound for distribution.