Question

What is meant by the term optimization? Discuss and give example.

Answer 1

Optimization is defined as the action or activity based on which the most effective use of a situation or resource us being conducted. Optimizing anything refers to fine-tuning for the betterment of the resource in order to provide overall impact regarding the same. For example if we consider a project then optimization would refer to enhance overall profit margin by monitoring the cost aspect of operations and ensure proper management of the same.