minimization
/ˌmɪnɪmaɪˈzeɪʃən/ · min·i·mi·za·tion
noun
- The act of lowering something to its smallest value or extent. The company's cost‑minimization strategy cut expenses by eliminating redundant processes.
- The process of finding the minimum value of a function, especially in mathematics or computer science. Linear‑programming algorithms are designed to perform rapid minimization of objective functions.
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Did you know? In the 1950s, minimization became a central concept in operations research, leading to the development of the simplex method for solving linear‑programming problems.