SIMULINK: sampling of a continuous signal, encoding, decoding and interpolation the data

Dear Simulink people. Im not much of a programmer and depended up on tools like simulink. Here is my question. I'm interested in data compression. I would like to:

Step 1: Sample a continuous time signal (microphone or generated polynomial function) with a certain samplerate to a set discrete data points.

Step2: Manipulate these datapoint in some way and take out points who are not interesting. And allocate points who are.

Step3: Interpolate or function approximate the strategic chosen data points.

My aim is to sample a function at a high frequency rate. Take out strategic data points. (compression) and interpolate the function to it looks similar to the original signal.

- Can this be done in only simulink, without programming in matlab? - What blocks do i need.

I have started with a sine genrator, a quantifier, and encoder. But i really dont know what all blocks to. Ill be happy to read you responses.

Best regards, Bart