The aim of this review is to provide a practical guide for those considerin
g the application of the discrete wavelet transform in their computational
practice. The concept of a wavelet is introduced and its applications, comp
utational and otherwuse, are described in brief, the reader being referred
to the literature for the rigorous proof of the mathematical statements use
d. The multiresolution analysis and the fast wavelet transform have become
virtually synonymous to the discrete wavelet transform. The correct choice
of a wavelet and the use of nonstandard matrix multiplication often prove c
rucial for the solution of a problem. at hand. The wavelet analysis reveals
such characteristics of a function as its fractal properties and singulari
ties, among others. Applying the wavelet transform to operator expressions
is helpful in solving certain types of equations. In dealing with discretiz
ed functions - as one often does in practical applications - the stability
of the wavelet transform and of related numerical algorithms becomes a prob
lem. Following the discussion of all the above topics, practical applicatio
ns of the wavelet analysis are illustrated, which are, however, too numerou
s for us to cover more than a tiny part of them. The authors would apprecia
te any comments which would better this review and bring it nearer to the g
oal formulated in the first phrase of this abstract.