According to this demo there should be an extra context-menu item when right-clicking on a project with sub-options "Instrument", "Update", "Optimize" and "Run".
In the Community edition I do not see these options.
Is there a specific option I should enable in the installer or is this feature simply not available in the community edition?
I could not find anything about PGO in the comparison chart.
According to the comment made in the demo video (in 2012) it is only available in Pro-plus SKUs of Visual Studio.
An alternative is to use GCC which has PGO features.