Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .


What Is An Algorithm

What Is An Algorithm

An algorithm is a sequence of instructions that provide a result to a specific problem in a finite time. The approach used to get the result can be either mathematical or logical but their steps should be in the right order. Think of an algorithm for wearing shoes, you cannot wear socks on shoes, the order is important.

What Is An Algorithm Used For?
Algorithms are used in information technology and by developers to write programs. When a developer writes a program, it is essentially giving a set of commands to the computer to perform an operation to get results. A programming language is used as a bridge to communicate as the machine does not understand the human language. The programmer writes a sequence of instructions called the programming algorithm and the programming language converts into a language that the machine understands.

Programming Algorithm
A programming algorithm is akin to a recipe which describes exact steps to cook a dish. Similarly, a computer will need exact steps to provide a solution to a problem. Following the same recipe example, a recipe contains ingredients followed by cooking instructions. An algorithm is also like that where the recipe is called the procedure in the computer world and the ingredients can be associated with inputs to the procedure. The computer follows the procedure and the results are displayed as the outputs. The algorithm tells the computer how to do something and it does it the same way every time. It is essential to know that the algorithm is different from a code and is written in plain English and is an unambiguous list of instructions which gives solutions. Some people also use a diagram to mention the steps and is called a flowchart.

Characteristics Of An Algorithm
All procedures cannot be called an algorithm. The following characteristics distinguish it from a procedure.
Clear instructions: The instructions should be clear and every step should have a well-defined input and output.
Input/Output: An algorithm can have 0 or more inputs but should be properly defined. It can have one or more than one outputs.
Effective: The operations that are defined in the algorithm should be basic and can be done in a given time. The number of steps should be finite and should be able to provide the results with the resources available. It should be able to be executed independently and not attached to another piece of code.

Most Famous Algorithms:
Google’s PageRank:
Most used algorithm in the world which lists the order in which the search results are displayed.
Facebook Timeline: This is the algorithm that feeds the Facebook timeline with contents of the most visited based on user preference and previous history.
Trading algorithm: Used by many financial institutions, it provides real-time data based on market conditions.
Round-Robin: This is the algorithm which helps to determine the top priority tasks when the machine has to perform many jobs at once.

Algorithms are the life-line of powerful technologies such as AI or machine learning and also virtual assistants and self-driving cars hence essential to know the fundamental concepts.

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post