Utilization, or usage, refers to the extent to which a resource, service, or product is used. It measures how effectively something is being employed to achieve its intended purpose. For example, in healthcare, hospital beds may be assessed for utilization to ensure they are being used efficiently to accommodate patients. In business, utilization can indicate how well employees are performing their tasks relative to their available time. High utilization rates often suggest that resources are being maximized, while low rates may indicate inefficiencies or underuse. Understanding utilization helps organizations optimize performance and resource allocation.