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Latency is how fast a single I/O-request is handled.
A storage subsystem that can handle 1000 IOPS with an average latency of 10ms may get better application performance than a subsystem that can handle 5000 IOPS with an average latency of 50ms. Especially if the application is sensitive to latency, such as a database service.
From #
https://louwrentius.com/understanding-iops-latency-and-storage-performance.html