Advantages and disadvantages of individual file based compression and inter-file compression

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Hello all,
I am studying a certain dataset and the aim is to compress these files.
I came across two Kinds of technique, one being compress each files individually and the other one is to compress across the files. of course inter file compression will give a higher compress rate if the files have higher commonality . I am trying to figure out how would this approaches impact on CPU side like processor speed for compression and decompression etc.

can anyone describe the advantages and disadvantages of both individuals file based and interfile compression methods.
thank you so much.
 
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