Let's say that I have a large set of latitude, longitude pairs which are accurate to 5 meters. I want to reduce their accuracy to 100 meters so that they render quicker and consume less storage space. Is there a name for this sort of lossy compression of coordinate data?
For instance, the three yellow points in the image below are part of a larger polyline. The red line represents the polyline at 5 meter accuracy. The thick blue line represents what the polyline would look like at 100 meter accuracy and the thin blue line represents the margin of error on that thick blue line (+/- 100 meters). Because the middle point falls within that margin of error, it can be eliminated entirely, thus reducing the storage size of the polyline.