jmr40 is on the mark, but I prefer the idea of Maximum Point Blank Range for my hunting rifles (no reason from actual real world experience, just an intellectual preference so far.) The idea is that you choose a vital zone diameter (d) based on the critter you are after and sight in so that the trajectory is ±½d to the MPBR. My .30-06 bolt action really likes the Hornady Light Magnum 180 grain and the old Federal High Energy 180 Partition (catalog P3006R, no longer made.) They are ±3" to 287 yards, both by software calculation and a limited range test that agreed with the calculations to 300 yards. As I am very unlikely to take a shot beyond 200 yards, I am happy with that.
Regardless of how you sight in, a key ingredient to hitting is to know what to expect from the loads you shoot with the zero you selected. Many hunters will carry a card, some will even put adhesive tape on the rifle to consult. The other key is accurate range estimation, especially at longer ranges. My miserable eyeball range finding is one of the reasons I like MPBR.
FWIW, my software says the Winchester Silvertip 165 grain sighted 3.58 inches high at 100 yards zeros at 270 yards, peaks 4.24 inches high at 153 yards, and is 2.48 inches low at 300 yards. Those are calculations and may differ quite a bit from what a specific ammo lot number does in your rifle.