The ITIL guiding principle 'focus on value' states that everything an organization does should link back, directly or indirectly, to value for itself, its customers, and other stakeholders1. A good way to apply this principle is to understand why services are used by service consumers, what outcomes they enable, and how they contribute to value creation2. This helps to align the service provider's activities and resources with the needs and preferences of the service consumers3. References: ITIL Foundation - ITIL 4 Edition, page
6; ITIL 4 - A Pocket Guide, page 24; ITIL 4 Practice Guide: Focus on Value, page 9.

The service level management practice defines, documents and manages the service levels of all the services and products. Service level management should provide the end to end visibility of all the organizational services. Service level management has to establish and provide the service views with service level target ensure meeting defined service levels by collecting, analyzing, storing and reporting all the defined target metrics of the services regularly (periodically) perform the service reviews and ensure the services meet the organization's needs continuously identify, capture, review & report the issues related to services, its performance against the defined service targets.
Reference: https://www.knowledgehut.com/tutorials/itil4-tutorial/itil-management-practices-processes

You need to use all of your resources as effectively and efficiently as you can. This means that you should automate wherever you can, and use people only for tasks that can't be automated. It also means that you need to think carefully about what you can automate and about the circumstances where only a person will do; and about simplifying those processes you do decide to automate to eliminate wasteful or inefficient steps.
You should always optimize the work BEFORE you automate it, as automating something that is inefficient or ineffective may just result in you doing the wrong thing faster!
https://www.sysaid.com/blog/itil/the-7-guiding-principles-of-itil-4-practical-advice-to-help-you-make-decisions