What is the effect of changing the ignition timing?

The tendency to knock increases as spark advance is increased. For an engine with recommended 6 degrees BTDC (Before Top Dead Center) timing and 93 octane fuel, retarding the spark 4 degrees lowers the octane requirement to 91, whereas advancing it 8 degrees requires 96 octane fuel [27]. It should be noted this requirement depends on engine design. If you advance the spark, the flame front starts earlier, and the end gases start forming earlier in the cycle, providing more time for the autoigniting species to form before the piston reaches the optimum position for power delivery, as determined by the normal flame front propagation. It becomes a race between the flame front and decomposition of the increasingly squashed end gases. High octane fuels produce end gases that take longer to autoignite, so the good flame front reaches and consumes them properly.

The ignition advance map is partly determined by the fuel the engine is intended to use. The timing of the spark is advanced sufficiently to ensure that the fuel-air mixture burns in such a way that maximum pressure of the burning charge is about 15-20 degree after TDC. Knock will occur before this point, usually in the late compression - early power stroke period.
The engine management system uses ignition timing as one of the major variables that is adjusted if knock is detected. If very low octane fuels are used (several octane numbers below the vehicle's requirement at optimal settings), both performance and fuel economy will decrease.

The actual Octane Number Requirement depends on the engine design, but for some 1978 vehicles using standard fuels, the following (R+M)/2 Octane Requirements were measured. "Standard" is the recommended ignition timing for the engine, probably a few degrees BTDC [38].

Basic Ignition Timing
Vehicle Retarded 5 degrees Standard Advanced 5 degrees
A 88 91 93
B 86 90.5 94.5
C 85.5 88 90
D 84 87.5 91
E 82.5 87 90

The actual ignition timing to achieve the maximum pressure from normal combustion of gasoline will depend mainly on the speed of the engine and the flame propagation rates in the engine. Knock increases the rate of the pressure rise, thus superimposing additional pressure on the normal combustion pressure rise. The knock actually rapidly resonates around the chamber, creating a series of abnormal sharp spikes on the pressure diagram. The normal flame speed is fairly consistent for most gasoline HCs, regardless of octane rating, but the flame speed is affected by stoichiometry. Note that the flame speeds in this FAQ are not the actual engine flame speeds. A 12:1 CR gasoline engine at 1500 rpm would have a flame speed of about 16.5 m/s, and a similar hydrogen engine yields 48.3 m/s, but such engine flame speeds are also very dependent on stoichiometry.