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Ad Scheduling or Day Parting is a feature, which can be used in Google AdWords. Using this, we can define specific hours of the day or even specific days of the week during which we want our creatives or campaigns to be delivered and showed to the users who are residing on the web during the specified time (hour of the day/ day of the week), while the rest of the time being restricted to serve the campaigns.
With this feature, we can also define or set bid adjustments (increased or decreased) depending on the most performing/underperforming day of the week or based on most performing/underperforming hour of the day.
Example: I can schedule my campaign to run only on Tuesdays during 10:00 A.M. to 12:00 P.M. with an increased bid of +25% or I want my campaigns to run on Tuesdays but want them to run on a decreased bid adjustment of -25% from 12:00 P.M. till 2:00 P.M. and whatever the case may be.
This helps us to limit our campaigns to the most performing hour and day of the week which then helps us to save and avoid the burning of monies during the under-performing time and day of the week while maintaining the overall performance; hygiene of the account.