1. A computing system comprising: at least one processor; and one or more storage device having stored computer-executable instructions which, when executed by the at least one processor, implement a method that includes: the computing system storing recovery data in a storage base, the recovery data including data for a plurality of different data points occurring within a predetermined period of time around each of a plurality of different recovery points; the computing system accessing a coalescing policy that identifies coalescing trigger events and policies for storing different quantities of the recovery data for the different recovery points, the coalescing policy specifying at least an amount of recovery data to retain for different recovery points based on corresponding ages of the different recovery points; the computing system detecting a coalescing trigger event that triggers a collapsing of the recovery data; and the computing system, for each of the different recovery points, coalescing the corresponding stored recovery data based on the coalescing policy, wherein said coalescing includes collapsing a first set of recovery data associated with a first recovery point into a reduced set of data points that is less than a quantity of data points in a second set of recovery data that is associated with second recovery point upon determining that the first recovery point is older than the second recovery point.