Is there some way in Adobe Illustrator to compress plots generated by MATLAB?
Yes. Let’s say you use MATLAB to generate a plot of one set of data, that has 10,000 points. Let’s say that most of these points are redundant, or nearly so. (In other words, most of them lie on lines between adjacent points.) You can simplify the plot in illustrator by selecting the “Path” that results, and doing Object->Simplify… Check “Preview” and “Show Original” if you want to make sure the simplification looks enough like the original.