This paper presents a new technique for optimizing formal analysis of propositional logic formulas and Linear Temporal Logic (LTL) formulas, namely the formula simplification table. A formula simplification table is a mathematical table that shows all possible simplifications of the formula under different truth assignments of its variables. The advantages of constructing a simplification table of a formula are two-fold. First, it can be used to compute the logical influence weight of each variable in the formula, which is a metric that shows the importance of the variable in affecting the outcome of the formula. Second, it can be used to identify variables that have the highest logical influences on the outcome of the formula. %The simplification table can be used to optimize %existing solutions for several interesting %LTL verification problems. We demonstrate the effectiveness of formula simplification table in the context of software verification by developing efficient framework to the well-known decentralized LTL monitoring problem.