Array is $test
Code:
{section name=test_num loop=$test}
{if $test[test_num].param eq $my_parm}
$test[test_num].param
{/if}
{/section}
That code will only print the row in the loop that matches your $my_param.
not sure if thats what your looking for.
the loop would be made up from a php file / mysql statement and the {if} statement will pick out the row you want.
If you wanted to minimise the amount of rows in the array you would need to alter the sql statement