Algorithm:
- A set of mathematical equations or rules that a search engine uses to rank the content contained within its index in response to a particular search query.
 
The algorithm is what powers search engines, and also provides websites with page ranks, Alexa rankings, Technorati authority, etc.  The algorithm often takes into account inbound links, outbound links, where the inbounds are coming from, where the outbounds are going to, number, quality, etc.
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Glossary Definition From ABC’s of Online Marketing by Alexandra Wharton, Issue 22, Revenue Magazine
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Alexa rankings can't be the sole determinants of measuring a sites importance and popularity as the http://www.alexa.com/data/details/main/fortuneh… rankings do not take into account all the browser types like Windows Vista etc.