Despite their novelty, wavelets have a tremendous impact on a number of modern scientific disciplines, particularly on signal and image analysis. Because of their powerful underlying mathematical theory, they offer exciting opportunities for the design of new multi-resolution processing algorithms and effective pattern recognition systems. This text provides an overview of current trends in the practical application of wavelet theory. It combines research in the rapidly-developing wavelet theory with ideas from practical signal and image analysis fields. Subjects dealt with include: wavelet theory and its specific application in diverse fields, ranging from data compression to seismic equipment, as well as advances in double density DWT, multiscale Bayesian estimation, symmetry and locality in image representation, and image fusion.