Algorithmic efficiency refers to how effectively an algorithm performs its task, particularly in terms of time and space resources. It measures how the algorithm's performance scales with the size of the input data. Efficient algorithms can handle larger datasets without a significant increase in processing time or memory usage. To evaluate algorithmic efficiency, two main factors are considered: time complexity and space complexity. Time complexity assesses how the execution time grows with input size, while space complexity examines the amount of memory required. Understanding these concepts helps developers choose the best algorithms for their applications, ensuring optimal performance.