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In addition to the official documentation mentioned by Erland, I hope you will take a look at the following articles, which contain some explanations combined with examples and video that will help you better understand SET STATISTICS IO ON.
SQL Server: Performance Tuning :Understanding Set Statistics IO output
How to use Statistics IO to Improve Your Query Performance--which one contains video
Simple Query tuning with STATISTICS IO and Execution plans
Best regards,
Seeya
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