I. Introduction
The transients due to ground faults, load switchings, and other disturbances may cover a broad frequency spectrum in the order of kilohertz to megahertz. A single captured event recorded for several seconds using monitoring instruments can produce megabytes of data. As a result, the volume of the generated and maintained data increase significantly, which lead to a high cost in storing and transmitting such data. Therefore, it is necessary to develop an effective compression technique which has capability to reduce the volume of data necessary for storing and to speed up the transmitted data for remote monitoring [1] [2] [3].