1. A method for reducing bandwidth required for transmission of data in a device having two portions rotating with respect to one another, a first portion including a data acquisition system (DAS) comprising a charge-to-digital converter and a digital signal processor (DSP) configured to receive and compress digital data from the charge-to-digital processor, and a second portion having a computer or processor configured to receive data from the DAS, wherein the DAS and computer or processor are communicatively coupled via a slip ring having a finite transmission bandwidth, wherein the computer or processor is configured to reconstruct and display an image using compressed data; said method comprising: using the DAS to compress scan data to a predetermined number of mantissa bits and a predetermined number of exponent bits; transmitting the compressed data from the first portion to the second portion across the slip ring; and using the transmitted compressed data to reconstruct and display an image of an object.