The answer to this question is a little bit tricky. But here’s a plain and simple explanation on this matter that should be easy to understand:
The basic optimization method is the lowest tier optimization method which will do everything to deliver the best possible performance while maintaining perfect graphics quality.
The standard optimization methods are the mid-tier optimization methods which will aim to deliver the best performance while maintaining reasonable graphics quality.
The advanced optimization methods are the highest tier optimization methods that will go above and beyond to deliver the best possible performance while maintaining acceptable graphics quality.
It is highly recommended to experiment with the optimization methods and resolutions in order to find which optimization method suits the needs of the current hardware specifications.