What are real factors that affect the page ranking? (Really I don’t know!)

According to the words of Google, “PageRank reflects our view of the importance of web pages by considering more than 500 million variables and 2 billion terms. Pages that we believe are important pages receive a higher PageRank and are more likely to appear at the top of the search results.”

And Google is saying that it depends on the links of the page and other links which are coming to the website. (Incoming links). 

But the last update from Google was not on this policy? I hosted this blog around 1 and half months back only (28th of November). I don’t have much incoming links. But I got page rank 3. But some good sites which have a lot of incoming links lost their page rank. Any of them could find any reason for this? What do you think? 

Now I am feeling like that Google page rank is not a big thing…You may miss the page rank at any time? Build your web page for your visitors not just for search engines!