What is the difference between a heuristic and an algorithm?

Question

What is the difference between a heuristic and an algorithm?

Answer 1

Algorithm is a sequence of some operations that given an input computes something (a function) and outputs a result.

Algorithm may yield an exact or approximate values.

It also may compute a random value that is with high probability close to the exact value.

A heuristic algorithm uses some insight on input values and computes not exact value (but may be close to optimal). In some special cases, heuristic can find exact solution.