Hi Alistu,
According to your question about the compensation methods, I agree with Sam Sung’s suggestion of using matlab compensation: several types of equalizers are available in DSP. Please, see the following link: https://optiwave.com/applications/100-gbps-dp-qpsk-system-with-digital-signal-processing/. The main compensation methods for given system and fiber medium are coherent detection and digital back-propagation. See the following links about it:
http://www.ncbi.nlm.nih.gov/pubmed/21935052; http://ee.stanford.edu/~jmk/pubs/digital.backpropagation.jlt.10-08.pdf