This transformation aims to help processing very large text files. It splits a text file into smaller chunks (which are also text files) that can further be processed using iterations. The chunks can be either of fixed length (by row count), or split by unique values of a column (e.g. one chunk per unique Date).
Since File Splitter doesn't load files in memory, it can be used for splitting files so large that they can't fit in RAM.
File Splitter is not available in the free edition.