  One strategy for reducing the online computational cost of matched-filter
searches for gravitational waves is to introduce a compressed basis for the
waveform template bank in a grid-based search. In this paper, we propose and
investigate several tunable compression schemes for a general template bank.
Through offline compression, such schemes are shown to yield faster detection
and localisation of signals, along with moderately improved sensitivity and
accuracy over coarsened banks at the same level of computational cost. This is
potentially useful for any search involving template banks, and especially in
the analysis of data from future space-based detectors such as eLISA, for which
online grid searches are difficult due to the long-duration waveforms and large
parameter spaces.
