1. A system for hierarchically compressing data comprising: one or more processors configured to: create a compression hierarchy of compression nodes, wherein each compression node is associated with a compression operation to produce compressed data, and wherein creating a compression hierarchy comprises: creating a dictionary compression node in the compression hierarchy of compression nodes; determine a path of one or more compression nodes through said compression hierarchy, based upon compression statistics, to compress data; and compress the data by the compression nodes of the path, wherein compressing the data comprises: performing a computation on the data using the dictionary compression node, wherein the computation is performed by applying bitshaved data to the dictionary compression node to generate a dictionary having values and keys; and performing the computation for each generated value.