  The volume of data and the velocity with which it is being generated by com-
putational experiments on high performance computing (HPC) systems is quickly
outpacing our ability to effectively store this information in its full
fidelity. There- fore, it is critically important to identify and study
compression methodologies that retain as much information as possible,
particularly in the most salient regions of the simulation space. In this
paper, we cast this in terms of a general decision-theoretic problem and
discuss a wavelet-based compression strategy for its solution. We pro- vide a
heuristic argument as justification and illustrate our methodology on several
examples. Finally, we will discuss how our proposed methodology may be utilized
in an HPC environment on large-scale computational experiments.
