What is PageRank?
PageRank is a numeric value that represents how important a page is on the web. Google figures that when one page links to another page, it is effectively casting a vote for the other page. The more votes that are cast for a page, the more important the page must be. Also, the importance of the page that is casting the vote determines how important the vote itself is. Google calculates a page's importance from the votes cast for it. How important each vote is is taken into account when a page's PageRank is calculated.
PageRank is Google's way of deciding a page's importance. It matters because it is one of the factors that determines a page's ranking in the search results. It isn't the only factor that Google uses to rank pages, but it is an important one.
The reason for this "PageRank Explained" paper
Not long ago, there was just one well-known PageRank Explained paper, to which most interested people referred when trying to understand the way that PageRank works. In fact, I used it myself. But when I was writing the PageRank Calculator, I realized that the original paper was misleading in the way that the calculations were done. It uses its own form of PageRank, which the author calls "mini-rank". Mini-rank changes Google's PageRank equation for no apparent reason, making the results of the calculations very misleading.
Even though the author abandoned mini-rank as a result of this and another paper, the original, unchanged paper is still available on the web. So if you come across a PageRank Explained paper that uses "mini-rank", it has been superceded and is best ignored.
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