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The extra bits allow many errors to be fixed. While these extra bits take up space on the hard drive, they allow higher recording densities to be employed, resulting in much larger storage capacity for user data.
Typically a DSP in the electronics inside the hard drive takes the raw analog voltages from the read head and uses PRML and ReedSolomon error correction "Reed Solomon Codes - Introduction" to decode the sector boundaries and sector data, then sends that data out the standard interface. That DSP also watches the error rate detected by error detection and correction, and performs bad sector remapping, data collection for Self-Monitoring, Analysis, and Reporting Technology, and other internal tasks.
Hard drives with S.M.A.R.T.-reported average temperatures below 27 C had failure rates worse than hard drives with the highest reported average temperature of 50 C, failure rates at least twice as high as the optimum S.M.A.R.T.-reported temperature range of 36 C to 47 C.
Source: Wikipedia > Hard Disk Drive
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