It makes a huge difference, cece5802. For instance, my improved battery life could be due to doing the factory reset and have little to do with nougat. It takes care of any conflicts that might be a result of old OS and new OS and will run much more smoothly.
Be sure to go through everything you want to make sure is backed up: pictures, documents, downloads, texts, call logs, app data for things like budget apps or mileage apps, etc. Take your time making sure you have everything saved.
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