Homonym: Utilization (Usage)
Utilization refers to the effective use of resources, such as time, materials, or labor, to achieve desired outcomes. It measures how well these resources are employed in various processes, helping organizations optimize performance and reduce waste. High utilization indicates that resources are being used efficiently, while low utilization may suggest inefficiencies or underuse.
In business, utilization is often assessed through metrics like capacity utilization, which compares actual output to potential output. This analysis helps identify areas for improvement, ensuring that resources are aligned with strategic goals and contributing to overall productivity and profitability.