This is a post by Cat McClintock on PTC site.

Suppose you want to design a group of similar products that vary only slightly from each other. For example, think of a collection of socket wrenches ranging from 0.25 to 1 inch. Rather than model and save each piece separately, you can create a generic socket in PTC Creo, and then use a Family Table to quickly create variants of the generic by changing just the relevant dimensions or parameters.

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