How to Compact ANSI and Unicode PST Files to Reduce Outlook Data Size?

[Brinshalom01]

My Outlook data file has become very large, and it is affecting the performance of Outlook. I read that compacting PST files can reduce the size, but I am not sure how to compact both ANSI and Unicode PST files properly. Could someone explain the best way to compact these PST files without risking data loss?