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Load balancing in network management refers to the process of distributing data transfer activity evenly across multiple resources, such as servers or network connections. This approach enhances performance and reliability by preventing any single device or connection from becoming a bottleneck. By balancing the workload, systems can improve response times, maintain higher levels of availability, and optimize resource utilization.

In practice, load balancing can involve various techniques such as round-robin distribution, least connections, or resource-based balancing. It ensures that all available resources are used efficiently, enhancing user experience and system performance, especially in environments with high traffic or demand.

The other options do not accurately define load balancing. While enhancing internet speed or reducing the workload on individual devices may be indirect benefits of effective load balancing, they do not capture the core principle of distributing workload. Similarly, upgrading processing power relates to improving a single device's capabilities rather than managing the distribution of traffic across multiple resources.

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