To analyze an algorithm is to determine the amount of resources (such as time and storage) necessary to execute it. Most algorithms are designed to work with inputs of arbitrary length. Usually the efficiency or complexity of an algorithm is stated as a function relating the input length to the number of steps (time complexity) or storage locations (space complexity). Algorithm analysis is an important part of a broader computational complexity theory, which provides theoretical estimates for the resources needed by any algorithm which solves a given computational problem. These estimates provide an insight into reasonable directions of search for efficient algorithms. In theoretical analysis of algorithms it is common to estimate their complexity in the asymptotic sense, i.e., to estimate the complexity function for arbitrarily large input. Big O notation, omega notation and theta notation are used to this end. For instance, binary search is said to run in a number of steps proportional to the logarithm of the length of the list being searched, or in O(log(n)), colloquially "in logarithmic time".

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