The Alexa program uses crawling, archiving, categorizing, and data mining techniques to build the Related Links lists for millions of Web URLs. So one technique used is to analyze links on the crawled pages to find related sites. The day-to-day use of the Alexa service and Related Links by all Alexa users also helps build and refine the data. By looking at high-level trends within the millions of URL "paths" created by Alexa users, we can deduce relationships between Web sites.
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