In one embodiment, a device in a serial network de-multiplexes a stream of traffic in the serial network into a plurality of data streams. A particular one of the data streams is associated with a particular endpoint in the serial network. The device determines that data from the particular data stream associated with the particular endpoint should be reported to an entity external to the serial network based on an event indicated by the data from the particular data stream. The device quantizes the data from the particular data stream. The device applies compression to the quantized data to form a compressed representation of the particular data stream. The applied compression is selected based on a data type associated with the data. The device sends a compressed representation of the particular data stream to the external entity as Internet Protocol (IP) traffic.