Google Panda is change to the Google’s search results ranking 
algorithm ,It was first released in Feb 2011. The change aimed to 
lower the rank of “low-quality sites”, and return higher-quality sites 
near the top of the search results.  CNET reported a surge in the 
rankings of news websites and social networking sites, and a drop in 
rankings for sites containing large amounts of advertising. This change 
reportedly affected the rankings of almost 12 percent of all search 
results. Soon after the Panda rollout, many websites, including Google’s
 webmaster forum, became filled with complaints of scrapers or copyright
 infringers getting better rankings than sites with original content. At
 one point, Google publicly asked for data points to help detect 
scrapers better. Google’s Panda has received several updates since the 
original rollout in February 2011, and the effect went global in April 
2011. To help affected publishers, Google published an advisory on its 
blog[citation needed], thus giving some direction for self-evaluation of
 a website’s quality.
Google Panda was built through an algorithm update that used 
artificial intelligence in a more sophisticated and scalable way than 
previously possible. Human quality testers rated thousands of websites 
based on measures of quality, including design, trustworthiness, speed 
and whether or not they would return to the website. Google’s new Panda 
machine-learning algorithm, made possible by and named after engineer 
Navneet Panda, was then used to look for similarities between websites 
people found to be high quality and low quality.
Many new ranking factors have been introduced to the Google algorithm
 as a result, while older ranking factors like PageRank have been 
downgraded in importance. Google Panda is updated from time to time and 
the algorithm is run by Google on a regular basis.On April 24, 2012 the 
‘Penguin’ update was released, which affected a further 3.1% of all 
English language search queries, highlighting the ongoing volatility of 
search rankings.
source:  http://en.wikipedia.org/wiki/Google_Panda
