Usually means: Maximizing efficiency within given constraints.
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We found 14 dictionaries that define the word optimisation:

General (11 matching dictionaries)
  1. optimisation: Merriam-Webster
  2. optimisation: Collins English Dictionary
  3. optimisation: Vocabulary.com
  4. Optimisation, optimisation: Wordnik
  5. optimisation: Wiktionary
  6. optimisation: Dictionary.com
  7. Optimisation (computer science), Optimisation: Wikipedia, the Free Encyclopedia
  8. optimisation: Rhymezone
  9. optimisation: FreeDictionary.org
  10. optimisation: Mnemonic Dictionary
  11. optimisation: TheFreeDictionary.com

Business (1 matching dictionary)
  1. optimisation: Financial dictionary

Computing (1 matching dictionary)
  1. optimisation: Encyclopedia

Medicine (1 matching dictionary)
  1. online medical dictionary (No longer online)

(Note: See optimisations as well.)

Definitions from Wiktionary (Optimisation)

noun:  Alternative spelling of optimization [The design and operation of a system or process to make it as good as possible in some defined sense.]

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