What term is used for data represented in a ranking order?

The term used for data represented in a ranking order is hierarchy. Hierarchy refers to a system or organization in which elements are ranked according to levels of importance or authority. In the context of data, this means that items are arranged in a particular order, such as a series of categories that show their relative standing or priority.

For example, in a business context, a hierarchy might illustrate the ranking of employees from CEO down to entry-level positions, or it could reflect how products are categorized based on sales performance. This method of representation is effective for visualizing relationships and can help in decision-making processes where understanding the order of priority is crucial.

The other terms do not convey the same meaning. A formula pertains to a mathematical expression, layout refers to the arrangement of content or elements, and structure indicates the overall framework but does not specifically imply a ranking or order. Therefore, hierarchy is the most appropriate term for describing data organized by ranking.