Understanding Horse Racing Speed Figures: A Simple Explanation

Question
hello sir. may i know  what does SPEED FIGURES mean in horse racing terms?

Answer
HI  I THINK THEY CHECK OUT ALL OF THE HORSES IN A RACE AND LOOK TO SEE HOW FAST THEY RAN IN ALL KINDS OF TRACK CONDITIONS AND THEN DECIDE JUST HOW FAST THAT HORSE RAN UNDER THOSE CONDITIONS TO COME UP WITH A OVERALL SPEED RATING.  I AM NOT A BIG FAN OF ALL THESE SO CALLED WAYS TO PICK OUT A WINNING HORSE. THANKS ed hess