I like centralized. For me it makes maintenance easier. If I want to update a specific script, etc, I only have to change it in one place. Also DR is easier with a centralized solution. I'd rather have 1 DB holding the data instead of 1 on each instance. Less is more, IMO. Less parts. Less hassle. More efficiency. Although this is very generalized. I'm sure 'it depends' applies here as it does everywhere else.
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