I am posting some info i know about link analysis.
link analysis as far as i know is making use of the hyperlinks on the web for various applications on the web. The applications include finding authoritative or important and pages having significance on thwe web , computing web page ranking(google) for searches , finding web user communities , finding similar pages , web page clustering, web site classification, in recommendation systems etc.
u know google's page rank algorithm na.. which use the backlinks
and out links from a given page to calcualte the popularity of the page.
like that. The basic funda in page rank algorithm is calculating the
popularity of a web page based on back links it has. It is believed that A
good/popular page has links from good/popular pages. for example, my home
page and yahoo. my home page has few back links where as yahoo has many.
so yahoo is a strong popular page than my home page.
basically they see how is a page connected in the web. to what
pages it gives links (out links), from what pages does it have links (back
links). for example clustering of web page can be done by observing the
links of a page. it is believed that simlar pages will have similar out
links and back link and seeing the out links and back links we can see how
two pages are related .. some such stuff.
In this process, usually the content of the page is not used
except for anchor text. (in running text or something when we give
hyperlink we tend to put a small description of the hyperlink. that is
called anchor text). the context is not much used because most of the
resarch in this area is done my db ppl and for some reasons they dont tend
to use the content of pages.