Does cpu speed (GHz) improve performance?

In pure processing capabilities, performance will increase directly with clock speed increases. However, you can't use clock speed as the only basis of performance as there's a lot of variables to consider. The clock speed simply tells you how quickly the CPU will run a single "cycle" and on it's own is relatively useless info. What it accomplishes in that cycle varies drastically across different architectures. Also you have to consider core and thread count and what application you're using.
 
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