Iteration (noun)

1. The repetition or performance of a process or a procedure, especially with the aim of improving it.
2. A single repetition of a series of events or actions, especially in mathematics or computer programming.

Origin:

Derived from the latin word 'iteratio' meaning repetition or renewal.

Examples:

1. The iteration of the design process allowed the engineers to refine and improve the product.
2. The iteration of the experiment was crucial for the scientists to validate their hypothesis.
3. The iteration of the algorithm was optimized for speed and accuracy, and it produced better results.
4. The iteration of the game was released with many new features and improvements, and it was well received by the players.
5. The iteration of the budgeting process was complicated and time-consuming, but it was necessary for the financial stability of the company.