What is a level of Granularity of a fact table?

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Level of granularity means level of detail that you put into the fact table in a data warehouse. For example: Based on design you can decide to put the sales data in each transaction. Now, level of granularity would mean what detail are you willing to put for each transactional fact. Product sales with respect to each minute or you want to aggregate it upto minute and put that data.
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