will not speed the process, but it will allow the live application to use the mysql database as normal without locking any tables and preventing the application to change the database.
MySQL Performance Blog » SELECT LOCK IN SHARE MODE and FOR UPDATE - 0 views
Dumping large MySQL InnoDB tables - 0 views
Live Backups of MySQL Using Replication - 0 views
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The --master-data option above locks all of the tables during the dump to prevent data from being changed, but allows users to continue reading the tables. With exclusive access, this feature isn't necessary. However, this option also adds a few lines like the following to the end of the dump file:
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