Allocation of memory is optimized across multiple pools of memory, based on minimizing the time it takes to successfully retrieve a given data item from each of the multiple pools. First data is generated that indicates a hit rate per pool size for each of multiple memory pools. In an embodiment, the generating step includes continuously monitoring attempts to access, or retrieve a data item from, each of the memory pools. The first data is converted to second data that accounts for a cost of a miss with respect to each of the memory pools. In an embodiment, the second data accounts for the cost of a miss in terms of time. How much of the memory to allocate to each of the memory pools is determined, based on the second data. In an embodiment, the steps of converting and determining are automatically performed, on a periodic basis.