An algorithm is a set of commands that must be followed for a computer to perform calculations or other problem-solving operations.According to its formal definition, an algorithm is a finite set of instructions carried out in a specific order to perform a particular task.
Step 2: Access historic and current data
For any algorithm, input data is essential.
We need sufficient historic data in order to distinguish test data from control data.
An algorithm is a sequence of unambiguous instructions for solving a problem, i.e., for obtaining a required output for any legitimate input in finite amount of time.
An algorithm is step by step procedure to solve a problem.