The ballistic coefficient (BC) is the mass of the object divided by the diameter squared that it presents to the airflow divided by a dimensionless constant 'i' that relates to the shape.
It is inversely proportional to the deceleration- a high number indicates a low amount of deceleration, so a bullet with a high BC will travel further than one with a low BC.
Since dense materials give more mass for a given volume or cross-section, bullets often employ lead in their construction.
Ballistic coefficient has units of lb/in² or kg/m².