Describe the process of optimizing web performance, including techniques such as code splitting, lazy loading, caching, and minification.

Web performance optimization involves improving the speed, responsiveness, and efficiency of web applications, reducing load times and enhancing user experience. Techniques such as code splitting divide the codebase into smaller bundles for faster initial loading, lazy loading defers the loading of non-critical resources until they are needed, caching stores frequently accessed data locally to reduce server requests, and minification reduces file sizes by removing unnecessary whitespace and comments, improving load times and network efficiency.