This package enables the user to incrementally update table data in parallel, in two high level steps:
- Group sets of rows in the table into smaller sized chunks.
- Run a user specified statement on these chunks in parallel, and commit when finished processing each chunk.
This package introduces the notion of parallel execution task. This task groups the various steps associated with the parallel execution of a PL/SQL block, which is typically updating table data.
Another option you have is to simply enable parallel DML and add the parallel hint to your INSERT statement.
If you're going to just group the names by their initials then run the query in parallel, there're example readily available on the internet
How Parallel Execution Works. But do check your database settings on the degree of parallelism, policies etc, so that you can keep a balance on the execution servers performing the jobs.