Finding an alternative with the most cost effective or highest achievable performance under the given constraints, by maximizing desired factors and minimizing undesired ones. In comparison, maximization means trying to attain the highest or maximum result or outcome without regard to cost or expense. Practice of optimization is restricted by the lack of full information, and the lack of time to evaluate what information is available (see bounded reality for details). In computer simulation (modeling) of business problems, optimization is achieved usually by using linear programming techniques of operations research.
See also satisficing.

Use optimization in a sentence

  • Gabriel decided to take his computer to the local electronics store to have it diagnosed, and it was recommended that he uses their best selling virus protection software for full system optimization.

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  • Making sure that you are always running to the best you can will allow that optimization to have great long lasting results.

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  • The team received a lot of optimization from their third base position because he hit over 40 home runs and drove in over 100 batters.

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