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Oracle’s Automatic Storage Management (ASM) product is an optional component of the Oracle database software suite that provides storage management functions to the database as well as other applications through an interface similar to an Oracle database.
Oracle ASM replaces functionality traditionally provided by a Logical Volume Manager (LVM) or File System.
ASM has become the standard volume management system for Oracle databases using Oracle Real Application Clusters (RAC), and is increasingly becoming the standard volume management system for all Oracle databases using block-based storage.