Maximization is used to increase a value like profit and revenue, while minimization is to decrease a value like cost and time

Maximization is the process of finding the maximum value of an objective function, often aimed at maximizing profit, output, or efficiency. Minimization is the process of finding the minimum value of an objective function, typically focused on reducing costs, time, or resource usage.

For instance, while solving a minimization problem, the main goal is to keep utilize or keep costs as low as possible. On the other hand, the goal of solving a maximization problem is to increase or maximize profits or output.