Meaning of the word "by far" in English

What does "by far" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

by far

US /baɪ fɑːr/
UK /baɪ fɑːr/

Idiom

by a great amount; to a great extent

Example:
She is by far the best student in the class.
This is by far the most challenging project I've ever worked on.