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Queue
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Public Group
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Queue is used for load balancing
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Public Group is solely used for sharing
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Queue is a feature available to salesforce.com users that allows you to integrate prospect assignments with your current salesforce.com workflow. Rather than assigning to a specific user, you can choose to assign leads to a salesforce.com queue and then use your CRM workflow or manual method of distributing leads to sales representatives.
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Public Group is kind of team or group of related users; this will help you to share the data.
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Queue can be created for Custom objects and for Case, Lead and Knowledge Article Version.
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Public group created can be used across any objects.
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Queue:
Public Group:
Cheers!!!