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It manages CPU, Disk and Network scheduling so a process cannot hog the resources. I don't think I can explain it any differently to the MS documentation. But you should disable both Dynamic Disk Fair Share and Dynamic Network Fair Share. They will cause high CPU usage and pauses/slow network usage. There are several forum posts about this.

Disable it entirely if you have other performance management tools doing a similar job like Wem or Appsense performance manager, they can compete and cause issues