The document discusses how Markov chains are used as the methodology behind PageRank to rank web pages on the internet. It provides an overview of key concepts, including defining Markov chains and stochastic processes. It explains the idea behind PageRank, treating each web page as a journal and measuring importance based on the number of citations/links to other pages. The PageRank algorithm models web surfing as a Markov chain and the steady-state probabilities of the chain indicate the importance of each page.