Definition - What does Stochastic mean?
Stochastic refers to data which has a random probability that may be analyzed via statistics. Although invidividual events cannot be predicted, analyzing the distribution of random stochastic variables may result in a pattern.
Techopedia explains Stochastic
Stochastic algorithms are used in artificial intelligence technology to solve problems based on probabilities. They are also commonly used in service level agreements (SLAs). For example, a vendor might use a stochastic model as a way to model out a particular service and its uptime.