Algorithm and Procedure

noun

• A precise rule (or set of rules) specifying how to solve some problem.
  • synonyms: algorithmic rule, algorithmic program

• (n.) The art of calculating by nine figures and zero.
• (n.) The art of calculating with any species of notation; as, the algorithms of fractions, proportions, surds, etc.

Algorithm is a complex mathematical model. In credit scoring, it is used to compare data in millions of credit reports and predict a person's likelihood to repay debts.

noun

• A particular course of action intended to achieve a result.
  • usage: "the procedure of obtaining a driver's license"; "it was a process of trial and error"
  • synonyms: process
• A process or series of acts especially of a practical or mechanical nature involved in a particular form of work.
  • usage: "the operations in building a house"; "certain machine tool operations"
  • synonyms: operation
• A set sequence of steps, part of larger computer program.
  • synonyms: routine, subroutine, subprogram, function
• A mode of conducting legal and parliamentary proceedings. .

• (n.) The act or manner of proceeding or moving forward; progress; process; operation; conduct.
• (n.) A step taken; an act performed; a proceeding; the steps taken in an action or other legal proceeding.
• (n.) That which results; issue; product.