If you wish to simply compress your UIImage, you can use
NSData *dataForPNGFile = UIImagePNGRepresentation(yourImage);
to generate an NSData version of your image encoded as a PNG (easily inserted into an NSDictionary or written to disk), or you can use
NSData *dataForPNGFile = UIImageJPEGRepresentation(yourImage, 0.9f);
to do the same, only in a JPEG format. The second parameter is the image quality of the JPEG. Both of these should produce images that are smaller, memory-wise, than your UIImage.
Resizing a UIImage to create a smaller thumbnail (pixels-wise) using published methods is a little trickier. _imageScaledToSize is from the private API, and I'd highly recommend you not use it. For a means that works within the documented methods, see this post.
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