Given a quarter of petabyte click log data, how can we estimate the relevance of each URL for a given query? In this paper, we propose the Bayesian Browsing Model (BBM), a new modeling technique with following advantages: (a) it does exact inference; (b) it is single-pass and parallelizable; (c) it is effective. We present two sets of experiments to test model effectiveness and efficiency. On the first set of over 50 million