As the name implies, when this parameter is set to ON, the data for the newly created INNODB data table is stored in a separate file instead of being stored in a shared ibdata table space.
Setting this parameter to on will have a number of benefits, and, in the latest version of MySQL 5.6, the default already has this parameter set to ON.
The immediate benefit is that you can use the file system (for example, the LS command) to evaluate the disk space occupied by a data table.
The biggest problem with shared tablespace is that the Ibdata file size only increases, and sometimes it's too big to be magical. If a separate tablespace is used, the data table will be truncate or drop when the table space is reclaimed.
In addition, if you want to use the compression characteristics of the InnoDB engine, you must also open this parameter.
In summary, opening this parameter will outweigh the advantages.
For more relevant research, please refer to the official documentation:
Http://dev.mysql.com/doc/refman/5.6/en/innodb-parameters.html#sysvar_innodb_file_per_table
Http://dev.mysql.com/doc/refman/5.6/en/innodb-multiple-tablespaces.html
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Analysis of MySQL parameters innodb_file_per_table