Wavelets play a key role in many applications like image representations and compression, which is a main issue in the process of reducing the size in bytes of a digital image file to store it in the memory and as well as to transmit. This paper presents image representation using various wavelet transforms. In the proposed method, the comparison between wavelets applied on an image are considered by counting the number of approximation coefficients retained for the representation of images and comparative analysis of the standard wavelets available is presented. This paper mainly aims at the type of the wavelet which retains less number of approximation coefficients for representing skin cancer image and gives the reduced compressed file size by considering the various parameters like Peak Signal to Noise Ratio (PSNR), Mean Square Error (MSE), Structural Similarity Index Measure (SSIM) and Compression Efficiency.