Time Complexity of Algorithms

Time complexity of an algorithm signifies the total time required by the program to run till its completion. The time complexity of algorithms is most commonly expressed using the big O notation.

Time Complexity is most commonly estimated by counting the number of elementary functions performed by the algorithm. And since the algorithm's performance may vary with different types of input data, hence for an algorithm we usually use the worst-case Time complexity of an algorithm because that is the maximum time taken for any input size.

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Calculating Time Complexity

Now lets tap onto the next big topic related to Time complexity, which is How to Calculate Time Complexity. It becomes very confusing some times, but we will try to explain it in the simplest way.
Now the most common metric for calculating time complexity is Big O notation. This removes all constant factors so that the running time can be estimated in relation to N, as N approaches infinity. In general you can think of it like this :

statement;

Above we have a single statement. Its Time Complexity will be Constant. The running time of the statement will not change in relation to N.

for(i=0; i < N; i++)
{
  statement;
}

The time complexity for the above algorithm will be Linear. The running time of the loop is directly proportional to N. When N doubles, so does the running time.

for(i=0; i < N; i++) 
{
  for(j=0; j < N;j++)
  { 
    statement;
  }
}

This time, the time complexity for the above code will be Quadratic. The running time of the two loops is proportional to the square of N. When N doubles, the running time increases by N * N.

while(low <= high) 
{
  mid = (low + high) / 2;
  if (target < list[mid])
    high = mid - 1;
  else if (target > list[mid])
    low = mid + 1;
  else break;
}

This is an algorithm to break a set of numbers into halves, to search a particular field(we will study this in detail later). Now, this algorithm will have a Logarithmic Time Complexity. The running time of the algorithm is proportional to the number of times N can be divided by 2(N is high-low here). This is because the algorithm divides the working area in half with each iteration.

void quicksort(int list[], int left, int right)
{
  int pivot = partition(list, left, right);
  quicksort(list, left, pivot - 1);
  quicksort(list, pivot + 1, right);
}

Taking the previous algorithm forward, above we have a small logic of Quick Sort(we will study this in detail later). Now in Quick Sort, we divide the list into halves every time, but we repeat the iteration N times(where N is the size of list). Hence time complexity will be N*log( N ). The running time consists of N loops (iterative or recursive) that are logarithmic, thus the algorithm is a combination of linear and logarithmic.
NOTE : In general, doing something with every item in one dimension is linear, doing something with every item in two dimensions is quadratic, and dividing the working area in half is logarithmic.

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Types of Notations for Time Complexity

Now we will discuss and understand the various notations used for Time Complexity.

1. Big Oh denotes "fewer than or the same as" iterations.
2. Big Omega denotes "more than or the same as" iterations.
3. Big Theta denotes "the same as" iterations.
4. Little Oh denotes "fewer than" iterations.
5. Little Omega denotes "more than" iterations.

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Understanding Notations of Time Complexity with Example

O(expression) is the set of functions that grow slower than or at the same rate as expression. It indicates the maximum required by an algorithm for all input values. It represents the worst case of an algorithm's time complexity.
Omega(expression) is the set of functions that grow faster than or at the same rate as expression. It indicates the minimum time required by an algorithm for all input values. It represents the best case of an algorithm's time complexity.
Theta(expression) consist of all the functions that lie in both O(expression) and Omega(expression). It indicates the average bound of an algorithm. It represents the average case of an algorithm's time complexity.
Suppose you've calculated that an algorithm takes f(n) operations, where,

f(n) = 3*n^2 + 2*n + 4.   // n^2 means square of n

Since this polynomial grows at the same rate as n^2, then you could say that the function f lies in the set Theta(n^2). (It also lies in the sets O(n^2) and Omega(n^2) for the same reason.)
The simplest explanation is, because Theta denotes the same as the expression. Hence, as f(n) grows by a factor of n^2, the time complexity can be best represented as Theta(n^2).