Newbie Question - Need Help Understanding Compression Methods

[Riaz]

Hi guys,,

I need some help in understanding the various compression methods. I have seen several compression tools here and do not understand the differences in any of them.
I have been using ultra arc by razor12911 and it works great even though I have no clue what the different options do such as Precomp, srep, lzma etc.

All I want is a universal method that will compress all types of files and run on any PC. I have a huge game collection and it's taking up lots of HDD space so I am looking to
compress these installation setup files to save up space.

Any help regarding this and the understanding of the different methods is much appreciated.

Thanks.