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Estimating Normalization Benefit

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I have a very large table in our main database system. (Details below), it consists of (global) street addresses (it contains the shipping label Toand From addresses for parcel or cargo shipments).. would there be any benefit in trying to normalize the City-State-Postal-Country. If so.. how could I estimate the space savings of doingso?

Table name: PARTY
Compression Type: Page
Table Partitioned: False
FileGroup: PRIMARY

Vardecimal format: false
Index space: 16MB
Row Count: 65,915,112
Data space: 6,977.195 MB

[PARTY_ID] [int] IDENTITY(1,1) NOT NULL,
[NAME] [varchar](255) NOT NULL,
[COMPANY_NAME] [varchar](255) NOT NULL,
[ADDRESS_LINE_1] [varchar](255) NULL,
[ADDRESS_LINE_2] [varchar](255) NULL,
[CITY_NAME] [varchar](50) NULL,
[STATE_CODE] [varchar](50) NULL,
[POSTAL_CODE] [varchar](20) NULL,
[COUNTRY_NAME] [varchar](50) NULL,
[ETL_RUN_ID] [int] NOT NULL,...


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