Wavelets are being suggested as a platform for various tasks in image processing. The advantage of wavelets lie in its time frequency resolution. The use of different basis functions in the form of different wavelets made the wavelet analysis as a destination for many applications. The performance of a particular technique depends on the wavelet coefficients arrived after applying the wavelet transform. The coefficients for a specific input signal depends on the basis functions used in the wavelet transform. Hence in this paper toward this end, different basis functions and their features are presented. As the image compression task depends on wavelet transform to large extent from few decades, the selection of basis function for image compression should be taken with care. In this paper, the factors influencing the performance of image compression are presented
