This is classically used as a rudimentary compression algorithm, although it also makes for a nice cipher challenge.
000011010110111 0100001111000111 1110 11000011100111101101001 001011101010100111 110100101 01001110100111110001010110001110111101111011010, 001001110101101001101010 11100111 1110 01100100000101001010011111101010 0000101100100, 0011001101011010010110 01011001100010101100011110010100000111 1111010000000010001010111 0011010110000110 01001110111111110110100111 110100101 001000111001011011111011000011110100 1111010010101100110000110 111111001100011001010111111001010000 11011010 0000110100 01011001111011100001011001000100 00101010110000100100101000100101001001110010. 0000110100 110001111001110111001101101010111111 10110111 1111110010101111101011011000101101001.
Good luck.