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This lecture covers the concept of link-based ranking, focusing on PageRank algorithm. It starts with citation analysis, discussing the importance of citations in scientific publications. The lecture then delves into the challenges of using links for ranking on the web, including issues like link spamming and dead-ends. The instructor explains the idea behind link-based ranking using a random walker model and transition matrices. Practical computation of PageRank is discussed, along with examples illustrating the ranking process. The lecture concludes with insights into the practical application of PageRank in web search engines, emphasizing the importance of combining text retrieval methods with link analysis for improved ranking.