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Big O Notation helps us understand how algorithms perform as input sizes grow. It categorizes execution time into different classes, from constant time to factorial time, guiding us in choosing efficient solutions for various computational problems.
O(1) - Constant time
O(log n) - Logarithmic time
O(n) - Linear time
O(n log n) - Linearithmic time
O(n^2) - Quadratic time
O(2^n) - Exponential time
O(n!) - Factorial time