Channel information and channel conditions determined by an Offline Tracking process are used to determine whether or not an adjustment to the read reference voltage can be avoided altogether without detrimentally affecting performance, or, alternatively, to determine a precision with which a read reference voltage adjustment should be made. If it is determined based on the channel conditions that a read reference voltage adjustment can be avoided altogether, read performance is improved by reducing the probability that a read reference voltage adjustment needs to be made during normal read operations. If it is determined based on the channel conditions that a read reference voltage adjustment needs to be made with a particular precision, the read reference voltage is so adjusted. This latter approach is advantageous in that relatively fewer adjustments will be made during normal read operations.