Please educate me on Oracle Locally Managed Tablespace.
What are its advantage and in what situation should I use it.
In the left side of this page you could find some documentation about this topic
LMTs have several advantages. First, their space is managed by a bitmap in the datafile header instead of the dictionary. This results in less space management enqueue locks.
LMTs also reduce fragmentation by managing your extents so they are either uniform size or they fit in a standard size.
Personally, I use LMTs for everything (except, of course, for system).
You can read about LMTs at http://otn.oracle.com/docs/products/oracle8i/
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