Perhaps *optimization* is the most abused word in all of research, engineering work or any task that seeks to maximize some intent. The Merriam-Webster dictionary defines it as “an act, process, or methodology of making something (as a design, system, or decision) as fully perfect, functional, or effective as possible; *specifically* **:** the mathematical procedures (as finding the maximum of a function) involved in this”. We can hear about optimizing power, area, a performance metric like latency etc. Many people pass of every design decision as an optimization strategy. While such decisions may contribute to local optimization, they may fail in achieving global optimization. In fact such optimizations may actually degrade performance when the software or the design is used in a context which was not anticipated or thought of by the original developers. Read here about some insight into optimizing a memory allocator in C++. You will find another debatable example of optimization to make software run faster here. And here is a nice article on efficiency versus intent. Typically optimization is associated with increasing the efficiency of a design (hardware or software) in some aspect. But such optimizations should not destroy the intent of the design. This requires a bit more analysis on part of the designer/developer to ensure that the intent is not lost. Here is another example.

The field of mathematical optimization, which is related to selecting the most appropriate choice (that satisfies a given set of criteria) from a set of alternatives, is vast and varied. There are numerous techniques suitable for different kinds of problems. You can see the list here. Frankly, it is a tough job to recommend one of these techniques for non-trivial problems. One needs to understand the nature of the problem in detail to make a just recommendation. Understanding the nature of such problems or modeling such problems in a way which is suitable for any of these techniques to be applicable is a non-trivial task. It requires a lot of theoretical and practical insight.