7-Zip is a utility program to help you extract compressed files and create your own compressed files in several different formats.
Installing it is a simple procedure and it all takes only a few seconds since you have to deal with such a light package.
The main selling-point of the application is a custom 7z format which is billed as creating files up to 40 percent smaller than those of more common zipping techniques.
This program can handle multiple compression formats.
It can package files into 7z, ZIP, GZIP, BZIP2, and TAR formats, and it can unpack all those, in addition to ARJ, CAB, CHM, CPIO, DEB, DMG, and more.
All in all, 7-Zip is the compression tool that you need to install if you are not willing to pay for a license for one the other similar apps on the market.