When concurrent sessions try to update optimizer statistics for the same object, all of them except the one that successfully acquired all necessary locks/pins on the library/row cache entries, wait on this wait event and then retry locking after a short period of time. In addition to explicit statistics gathering and maintenance operations using the DBMS_STATS package, Oracle database itself may try to update statistics for some objects, either on behalf of the user or for its own maintenance purposes.
Wait Time: 10 ms
Parameters: None