This paper introduces the use of a fiber-optic communication system for interrogation and transmission of data from fiber Bragg grating (FBG) sensors. Signal coding and dispersion compensation methods, usually used in communication systems, are used to improve the sensing system's performance. Moreover, communication system parameters are used to assess the improvement in the FBG sensing performance. This is done through the determination of the profiles of Q-factor and eye diagrams. The sensors considered in the simulations are strain sensors subjected to a wide range of strains. The results obtained show a clear improvement of the sensing system with symmetrical compensation. The proposed method is suitable for applications where fiber-optic links are available near both the sensing location and information-collection and-processing unit, even if these two are hundreds of kilometers apart. A good example of where such a system can be applied is the oil industry. The rigs are usually very far from headquarters, but both might be close to a fiber node.