Methods and systems for simplifying data collected from assets are provided. An example method involves receiving a set of simplified data at a server. The simplified set of data is generated by application of a dataset simplification algorithm on raw data obtained from a data source at an asset upon satisfaction of a data logging trigger, wherein the dataset simplification algorithm causes interpolation error within the simplified set of data to be limited by an upper bound that is fixed across the simplified set of data. The method further involves receiving a request for a status of the asset and interpolating a status of the asset based on the simplified set of data in response to the request.