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A materialized view was previously called a snapshot in Oracle. It is a physical table that is based on a query on one or many tables. Materialized views can be used for dynamic data replication or to access data on remote databases without a hit on performance. In comparison to views, materialized views are physical tables and can be refreshed based on some predetermined intervals. In addition, materialized views can use logs to store record changes to quickly refresh the materialized views.
As mentioned materialized views can be used to access remote database tables across database links or can be used to store computed, complex queries within the same database. A practical use of materialized views will be in an operational data store or data warehouse.
You can create indexes on materialized views as well.
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