Smart production as one of the key issues for the world to advance toward Industry 4.0 has been a research focus in recent years. In a smart factory, hundreds or even thousands of sensors and smart devices are often deployed to enhance product quality. Generally, sensor data provides abundant information for artificial intelligence (AI) engines to make decisions for these smart devices to collect more data or activate some required activities. However, this also consumes a lot of energy to transmit the sensor data via networks and store them in data centers. Data compression is a common approach to reduce the sensor data size so as to lower transmission energies. Literature indicates that many Bounded-Error Piecewise Linear Approximation (BEPLA) methods have been proposed to achieve this. Given an error bound, they make efforts on how to approximate to the original sensor data with fewer line segments. In this paper, we furthermore consider resolution reduction, which sets a new restriction on the position of line segment endpoints. Swing-RR (Resolution Reduction) is then proposed. It has O(1) complexity in both space and time per data record. In other words, Swing-RR is suitable for compressing sensor data, particularly when the volume of the data is huge. Our experimental results on real world datasets show that the size of compressed data is significantly reduced. The energy consumed follows. When using minimal resolution, Swing-RR has achieved the best compression ratios for all tested datasets. Consequently, fewer bits are transmitted through networks and less disk space is required to store the data in data centers, thus consuming less data transmission and storage power.