A filter chain sits between a converter running far faster than the signal needs and a datapath that cannot afford to. Getting from one rate to the other cheaply is most of the work in a wideband front end.
Doing it in one stage is almost always wrong. A single filter decimating by a large factor needs an enormous number of taps to hold its transition band; a cascade — a cheap CIC to take the bulk of the rate down, half-band stages to halve efficiently, then a shaping FIR at the low rate where taps are affordable — achieves the same response for a fraction of the resource.
Precision is the other lever. Applying a uniform word length across a datapath wastes bits at the wide end and starves the narrow end. Sizing each stage against the dynamic range it actually carries recovers significant DSP and memory capacity with no measurable performance loss, which is frequently what allows a design to close in the device that was budgeted.