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PageRank
PageRank is Google's name for their link analysis algorithm. Web pages in Google's search index are given a PageRank, a number between 0 and 10, that signifies that page's overall relevance. The algorithm that determines a page's PageRank is a complex mathematical algorithm that counts backlinks pointing to a page as a "vote" for that page by the linking website.

In general, the more backlinks a web page has, the higher it's PageRank will be (the number is calculated in relation to all other elements in the set, in this case, all other web pages in Google's index).