TokuDB is an alternative storage engine for MySQL that offers features like compression, hot schema changes, amortized writes, and multiple clustering indexes. It can help get past limitations of InnoDB. When evaluating TokuDB, you should test queries and overall performance and make sure it meets your requirements. The minimum installation involves configuring parameters like open file limits, cache size, and direct I/O in MySQL and disabling transparent huge pages in Linux. Loading and backing up data may require using ALTER TABLE, SELECT INTO OUTFILE, or the TokuDB Hot Backup plugin. Key things to monitor include open file descriptors, swapping, and checkpoint durations.