Normalization is a critical process in database design that helps reduce redundancy and improve data integrity. Explain the concept of normalization, discussing its objectives, the different normal forms $(1$NF$,2$NF$,3$NF$,$ and BCNF$),$ and the rules that govern each. Provide examples to discuss how normalization can enhance the efficiency and consistency of a database. Additionally, explain situations where denormalization might be preferred over strict normalization, considering factors like performance and query optimization.