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The final inspiral phase in the evolution of a compact binary consisting ofblack holes and/or neutron stars is among the most probable events that anetwork of ground-based interferometric gravitational wave detectors is likelyto observe. Gravitational radiation emitted during this phase will have to bedug out of noise by matched-filtering (correlating) the detector output with abank of several $10^5$ templates, making the computational resources requiredquite demanding, though not formidable. We propose an interpolation method forevaluating the correlation between template waveforms and the detector outputand show that the method is effective in substantially reducing the number oftemplates required. Indeed, the number of templates needed could be a factor$\sim 4$ smaller than required by the usual approach, when the minimal overlapbetween the template bank and an arbitrary signal (the so-called {\it minimalmatch}) is 0.97. The method is amenable to easy implementation, and the variousdetector projects might benefit by adopting it to reduce the computationalcosts of inspiraling neutron star and black hole binary search.Comment: scheduled for publicatin on Phys. Rev. D 6

Gravitational wave chirp search: Economization of post-Newtonian matched filter bank via cardinal interpolation