In that case there is a program or process leaking memory. That means it is not releasing memory when it should, and is considered a bug that only its developer can fix. Minor memory leaks are not unusual, but not to the extent you describe. Determining which program or process can be challenging.
You can use the command leaks to identify whether a specific process is doing that, but its results can be inconclusive, and you have to know in advance which process you suspect is responsible. Most likely it will be a non-Apple product, though certain Apple software has been known to leak memory in rare circumstances.
To potentially identify likely culprits use Activity Monitor, click the Memory tab, and sort processes by memory. Start by identifying the process with the largest memory value other than kernel_task.
Compressed memory refers to memory that has been compressed using OS X's proprietary compression algorithm. Virtual memory refers to memory contents that have been written to mass storage, which is slower than RAM. If your Mac uses a rotational hard disk drive virtual memory usage will be very slow. Compressed memory is normal and your Mac's performance will not be affected by memory compression. On the other hand if the "memory pressure" graph becomes "red" it's an indication that your Mac is relying upon virtual memory, and its performance will degrade.