For the correct extension performance, do we need just to configure the Google Page Speed Optimizer extension or something else should be done?

For the correct extension performance, do we need just to configure the Google Page Speed Optimizer extension or something else should be done?

The extensions requires additional software for image optimization. Here is the list of tools to be installed:
  1. JPEG optimization tool
  2. PNG optimization tool
  3. GIF optimization tool
  4. WEBp tool