To re-profile means to change the edge angle to a different angle, for an EDC knife I personally like them very sharp so I take them down to 15 Degrees on each side, or 30 Degrees inclusive, but you need a very hard steel to handle this angle, so lower end stuff will just roll or chip too easily at such steep andgles. But to do that on todays higher end steel is pretty difficult unless you have the right sharpening equipment and the skills to operate it. If you are not that good at sharpening you are better of just maintaining the angle of the knife, polishing it up, and if you need to do a major re-profile, to just send it out to one of the makers on the forum.
If you want to this on your own, A system that will give you the ability to re-profile most modern steels, S30V, D2, Vg-10 etc is something that will be able to hold the knife at a fixed angle while you sharpen, because they take so long, and are so hard, to maintain a consistent angle without these aids is very difficult. And diamond sharpening equipment will speed up the process dramatically, a very effective, easy, and well priced system is the DMT Diafolds, get the Course, Medium, Fine, and Extra Fine and the Magna Guide, with that you will be all set up