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The process of coding information so that only authorized individuals with the appropriate key can access or view it is known as encryption. Encryption transforms readable data into an unreadable format using algorithms and keys, ensuring that even if the data is intercepted or accessed by unauthorized users, they cannot interpret it without the key.

In the context of security, encryption is a fundamental practice for protecting sensitive information, as it creates a barrier against unauthorized access. By requiring a key for decryption, only those with legitimate access can return the data to its original, readable state. This makes encryption a critical component in various applications, including digital communications, data storage, and secure transactions.

The other processes mentioned, like encoding, decoding, and compression, serve different purposes. Encoding is converting data into a specific format, mainly for data integrity and transmission efficiency, not necessarily for security. Decoding is the reverse process of encoding, aimed at reverting the data to its original format. Compression reduces file size to save space or improve transmission speed without the context of security. Therefore, encryption stands out as the correct term for the process of securing information through coding.