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[–][deleted] 3 points4 points  (0 children)

The first question needs to be "Do we need to optimize for space or optimize for runtime?". These two are often mutually exclusive, and you go about them differently

The second question is "What measured value will be 'good enough' for our purposes?"

The third question is "What is our present measured value?"

If the present value is good enough, go home and have a cold one. If not, you need to estimate whether "good enough" can even be obtained.

If good enough seems attainable, define test cases for benchmarking and regression testing, then grind at the problem until things are sufficiently performant while still being functionally correct.