Process variable transmitter comprising: a process variable sensor configured to provide an analog sensor signal (x 0) representing a process variable; an analog to digital converter configured to receive the analog sensor signal from the process variable sensor and to convert the analog sensor signal to a digital sensor signal (v 0), the analog to digital converter operating at a converter rate; and a compensation processor coupled to the analog to digital converter and configured for: receiving an initial digital sensor signal value from the analog to digital converter; calculating, in a first mode, a compensated process variable value (y) based on the initial digital sensor signal value, wherein the compensated process variable is calculated in the first mode at a first rate slower than the converter rate; calculating a compensation factor relating the compensated process variable value to the initial digital sensor signal value, wherein the digital sensor signal values are updated at a second rate as a function of the converter rate and faster than the first rate; receiving an updated digital sensor signal value from the analog to digital converter at the second rate; calculating, in a second mode, a process variable estimate (y n) as a function of the updated digital sensor signal value and the compensation factor, wherein the process variable estimate is calculated in the second mode at the second rate; and outputting an output signal representing an estimated compensated process variable value based on at least the process variable estimate at approximately the second rate. a process variable sensor configured to provide an analog sensor signal (x 0) representing a process variable; an analog to digital converter configured to receive the analog sensor signal from the process variable sensor and to convert the analog sensor signal to a digital sensor signal (v 0), the analog to digital converter operating at a converter rate; and a compensation processor coupled to the analog to digital converter and configured for: receiving an initial digital sensor signal value from the analog to digital converter; calculating, in a first mode, a compensated process variable value (y) based on the initial digital sensor signal value, wherein the compensated process variable is calculated in the first mode at a first rate slower than the converter rate; calculating a compensation factor relating the compensated process variable value to the initial digital sensor signal value, wherein the digital sensor signal values are updated at a second rate as a function of the converter rate and faster than the first rate; receiving an updated digital sensor signal value from the analog to digital converter at the second rate; calculating, in a second mode, a process variable estimate (y n) as a function of the updated digital sensor signal value and the compensation factor, wherein the process variable estimate is calculated in the second mode at the second rate; and outputting an output signal representing an estimated compensated process variable value based on at least the process variable estimate at approximately the second rate. receiving an initial digital sensor signal value from the analog to digital converter; calculating, in a first mode, a compensated process variable value (y) based on the initial digital sensor signal value, wherein the compensated process variable is calculated in the first mode at a first rate slower than the converter rate; calculating a compensation factor relating the compensated process variable value to the initial digital sensor signal value, wherein the digital sensor signal values are updated at a second rate as a function of the converter rate and faster than the first rate; receiving an updated digital sensor signal value from the analog to digital converter at the second rate; calculating, in a second mode, a process variable estimate (y n) as a function of the updated digital sensor signal value and the compensation factor, wherein the process variable estimate is calculated in the second mode at the second rate; and outputting an output signal representing an estimated compensated process variable value based on at least the process variable estimate at approximately the second rate.