How does Google PageRank Work?

First of all for those who do not know what Google PageRank means, its a status of your site that is rated for 10. The more the number the higher the probability to be seen in the top of Search engines. Basically the high PR site ranks top in search engine, even though you have less quality content. Recently Google also updated its Search Algorithm - PANDA (technical name). The PageRank for just about to be forgotten but Google has started updating this service, and this service is very important for Advertisers and link builders.

So, What is Google PageRank?

PageRank is an link analysis algorithm, named after Larry Page and used by the Google Internet search engine, that assigns a numerical weighting to each element of a hyper linked set of documents, such as the World Wide Web, with the purpose of "measuring" its relative importance within the set. The algorithm may be applied to any collection of entities with reciprocal quotations and references. The numerical weight that it assigns to any given element E is referred to as the PageRank of E and denoted by PR(E). 

Why does your site need PR?

The higher the PR the better the ranking in search engine criteria. Let me explain you with an example, if a site is of high quality and popular ones, then if you have a couple of backlinksfrom that site, it will be treated as a very good link. Where as, if the same you do with small niche sites, even though you have many or several backlinks they are not treated that good links. So that is why most bloggers try to fetch a link back from high PR sites.

I strongly recommend you to read this article on how to improve Google PR.

Do you have a Google PR for you site?

27th June 2011 Google updated its PageRank status for websites, and previous update was in January 2011. So it seems that Google does this update every 6months. My blog is having a good amount of quality traffic, and Now I'm with my PR status of 2. 

Share your thoughts, about what you really think about Google PageRank?