Internet plays a vital role for doing the business. It provides platform for creating huge number of customers for ease of business. E-business organizations are growing rapidly and doubly in every minute; World Wide Web (WWW) provides huge information for the Internet users. The accesses of user's behavior are recorded in web logs. This information seems to be very helpful in an E-business environment for analysis and decision making. Mining of web data come across many new challenges with enlarged amount of information on data stored in web logs. The search engines play key role for retrieving the relevant information from huge information. Nowadays, the well-known search engines, like Google, MSN, Yahoo, etc. have provided the users with good search results worked on special search strategies. In web search services the web page ranker component plays the main factor of the Google. This paper discusses the new challenges faced by web mining techniques, ranking of web pages using page ranking algorithms and its application in E-business analysis to improve the business operations.