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The I/O Usage in cPanel refers to the disk input and output (I/O). This is usually measured in KB/s or MB/s and specifies the disk I/O speed your website or scripts can carry out operations per second on your server.
The lower the I/O speed the lower the performance of your website no matter what CPU or RAM specifications of your web hosting package. The industry standard I/O Usage speed for shared hosting is 1 MB/s which is more than enough for most websites, however larger and more popular websites should probably look at more premium hosting solutions such as VPS or Dedicated Servers.