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PageSpeed Insights is a Free SEO Tool that analyzes your page's speed performance. It reports on the real-world performance of a page for mobile and desktop devices and provides suggestions on how that page may be improved.
According to Google, PageSpeed Insights evaluates how well a page follows common performance best practices and computes a score from 0-100 that estimates its performance headroom.
It evaluates if a page can improve its performance in two areas:
The score is then categorized as being Good, Medium, or Low.
The calculation assumes that a developer wants to keep the same appearance and functionality of the page.
The optimization score estimates the performance headroom of a page.
A page with slow speed might have high optimization score because it has a low ratio of render-blocking resources relative to the total resources used by the page. On the other hand, a fast page might have a low optimization score because it has a high number of render-blocking resources relative to its total resources.
You can read more about PageSpeed Insights Checker by simply going to Google Developes Page.