verb (used with object), optimized, optimizing.
to make as effective, perfect, or useful as possible.
to make the best of.
Computers. to write or rewrite (the instructions in a program) so as to maximize efficiency and speed in retrieval, storage, or execution.
Mathematics. to determine the maximum or minimum values of (a specified function that is subject to certain constraints).
verb (used without object), optimized, optimizing.
to be optimistic.
Also, especially British, optimise.

1835–45; optim(um) + -ize

maximize, optimize.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
optimize or optimise (ˈɒptɪˌmaɪz)
1.  (tr) to take the full advantage of
2.  (tr) to plan or carry out (an economic activity) with maximum efficiency
3.  (intr) to be optimistic
4.  (tr) to write or modify (a computer program) to achieve maximum efficiency in storage capacity, time, cost, etc
5.  (tr) to find the best compromise among several often conflicting requirements, as in engineering design
optimise or optimise
optimi'zation or optimise
optimi'sation or optimise

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1844, "to act as an optimist," back formation from optimist. Meaning "to make the most of" is first recorded 1857. Related: Optimization; optimisation.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
The time series econometrics taught did not presuppose optimizing behavior.
There has to be a way of optimizing population and the economic status of the
Countries should not fight for local maxima optimizing their job at cost of
  other countries.
Also, the developed world needs to cut his share of energy consumption by the
  way of optimizing his efficiency.
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