Although there is an academic interest in a possible "cross-over" point between INITIALIZE and the MOVE of a table with initial values...
The thing is...
Unless you have a table where you are storing amounts/values which are summed/otherwise calculated upon their previous value - you don't need to INITIALIZE
05 B-DATA PIC 9(7).
05 C-DATA PIC X(20).
05 D-DATA PIC 99.
MOVE X-DATA TO B-DATA
MOVE Y-DATA TO C-DATA
MOVE Z-DATA TO D-DATA
The above is what you might see for someone preparing an output record for writing. THE INITIALIZE IS A TOTAL WASTE OF TIME.
If there is a table-entry with 20 subordinate items and all that happens to them is MOVE then there is no need to INITIALIZE.
If you are calculating into a value in a table using the current value as part of the calculation, then your value in the table needs to be initialised to zero. So you have a table which has exactly those type of values and you don't go INITIALIZEing other things.
The results will be identical. The CPU consumed will be more in the first.
If your existing code can be "abstracted" to the above, just remove the INITIALIZE and any other attempts to set to an initial value and you'll have your CPU saving.
And yes, there will be untolled hours of CPU time wasted daily around the world by people who use INITIALIZE routinely to just consume CPU and who then say things like "I got a S0C7 return code and I don't know why because I used INITILIZE"