Loss of compactness that occurs in may significant PDE settings can be expressed in a well-structured form of profile decomposition for sequences. Profile decompositions are formulated in relation to a triplet (X, Y, D), where X and Y are Banach spaces, X ֒→ Y , and D is, typically, a set of surjective isometries on both X and Y . A profile decomposition is a representation of a bounded sequence in X as a sum of elementary concentrations of the form g k w, g k ∈ D, w ∈ X, and a remainder that vanishes in Y . A necessary requirement for Y is, therefore, that any sequence in X that develops no D-concentrations has a subsequence convergent in the norm of Y . An imbedding X ֒→ Y with this property is called D-cocompact, a property weaker than, but related to, compactness. We survey known cocompact imbeddings and their role in profile decompositions. and a wavelet-based one, in function spaces, (see Bahouri, Cohen and Koch [7] whose origins are in Gérard's paper [28]).The purpose of this survey is to present current results of general concentration analysis as well as some areas of its advanced applications, such as elliptic problems of Trudinger-Moser type and "mass-critical" dispersive equations, where cocompactnes of Strichartz imbeddings was proved and employed by Terence Tao and his collaborators.The key element of the cocompactness theory is the premise that compactness of imbeddings of two functional spaces, which in many cases is attributed to the scaling invariance u → t r u(t·) (that leads to localized non-compact sequences of "blowups" or "bubbles" t r k w(t k ·), t k → ∞), can be caused by invariance with respect to any other group of operators acting isometrically on two imbedded spaces X ֒→ Y . Furthermore, proponents of the cocompactness theory insist that there are many concrete applications which involve such operators ("gauges" or "dislocations") that are quite different from the Euclidean blowups. Indeed, recent literature contains concentration analyis of sequences in Sobolev and Strichartz spaces, involving actions of anisotropic or inhomogeneous dilations, of isometries of Riemannian manifolds (or more generally, of conformal groups on sub-Riemannian manifolds and other metric structures) and of transformations in the Fourier domain.Improvement of convergence, based on elimination of concentration (understood in the abstract sense as terms of the form g k w, where {g k } is a noncompact sequence of gauges) can be illustrated in the sequence spaces on an elementary example based on Proposition 1 of [29].