Hyphen

A hyphen is one-half the size of an en-dash (–) and one-third the size of an em-dash (—). Hyphens have three main uses. 

1.  Hyphens are used primarily to make compound words, especially phrasal adjectives preceding the nouns they modify—for example:

Thou fair-haired angel of the evening … [William Blake]

Talking in a sing-song drone … [Entertainment Weekly]

… a starch-filled potluck of goodness. [Two Vegan Boys]

An adjective phrase beginning with an -ly adverb needs no hyphen—for example:

… that I had realized the goal of her poorly conceived plan. [Wayward Irregular]

So the hyphen here is unnecessary:

Such advertisements are categorized by sparsely-dressed women … [Daily Campus]

2.  Hyphens help distinguish between homographs with vastly different meanings—for example, co-op and coop, re-create and recreate, mid-section and midsection.

3.  Hyphens are occasionally used in compound nouns, although usage varies, and specific conventions govern each case. Invented compound nouns are usually good candidates for hyphenation; poets often do this with whimsical coinages—for instance:

And the flags where the butter-bump hides in for ever … [John Clare]