Facebook's graph search is like a search engine for Facebook users, where people search for the person with their name or the place he/she lives. But with an option in the Facebook's privacy settings, limiting the search feature's by not showing a particular person's profile by hiding. So, Facebook is going to retire this option and making every person's profile searchable.
If you are using this setting called "Who can look up your timeline by name?" Then you will be notified about the retirement of this option soon. Even though your name will be searchable, you can limit the audience of your posts by setting privacy features for your posts individually.
In this way, people searching on Facebook can find the person they are looking for. They will see your timeline, but it will depend on your posts privacy settings, whether it is limited to your friends or can be seen by anyone.
The retirement of this setting is solely for the purpose of Facebook graph search, as many are confusing about the results and sometimes they are not getting desired results.
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