Please answer a question about the following article about Data compression:

Lossy data compression is the converse of lossless data compression. In these schemes, some loss of information is acceptable. Dropping nonessential detail from the data source can save storage space. Lossy data compression schemes are designed by research on how people perceive the data in question. For example, the human eye is more sensitive to subtle variations in luminance than it is to the variations in color. JPEG image compression works in part by rounding off nonessential bits of information. There is a corresponding trade-off between preserving information and reducing size. A number of popular compression formats exploit these perceptual differences, including those used in music files, images, and video.

What can save storage space?
Dropping nonessential detail from the data source