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The complexity and richness of telecommunications traffic is such that one may despair to find any regularity or explanatory principles. Nonetheless, the discovery of scaling behavior in teletraffic has provided hope that parsimonious models can be found. The statistics of scaling behavior present many challenges, especially in nonstationary environments. In this article, we overview the state of the art in this area, focusing on the capabilities of the wavelet transform as a key tool for unraveling the mysteries of traffic statistics and dynamics.