An algorithm can be defined as a finite step by step instructions to perform an operation.
In computer science, an algorithm is defined as a finite step by step instructions to solve a computational problem efficiently.
Algorithms are important as they help solve computational problems efficiently, make programs run faster, and improve problem-solving skills.
Examples of different types of algorithms include brute force approach, recursive approach, dynamic programming, backtracking algorithm, greedy approach, and divide and conquer.