Models and Algorithms
Algorithms
An algorithm is a mathematical technique or equation where the parameters have not been assigned values. It is a non-specific framework.
At this stage, the algorithm does not have parameters, but it may have hyperparameters. A solution proposal could include an algorithm alongside specified hyperparameters such as the number of k-clusters or the learning rate of a neural network.
Models
A model is an algorithm with fully defined parameters as learned from the data. Iteration will refine the values as the code is run.
Algorithms become models once parameter values are assigned. Again, hyperparameters exist separately to this definition.
In practical terms, a model is how the layers of data are organised.
Coding Deep Learning for beginners is a good resource for starting out learning these definitions.