Definition
Modelling is the process of creating a simplified representation of a real system, process, phenomenon or problem for analysis, Forecasting, Simulation or Decision Support.
Human Explanation
Modelling helps explain how reality works without requiring experiments on the real object or process.
Why it Matters
A well-designed Model supports the assessment of different scenarios, prediction of the effects of change and reduction of risk before real action is taken.
Conceptual Boundary
Modelling is the process of creating and using a Model; the Model is the resulting representation. A Model is not an exact reproduction of reality but a simplification based on defined assumptions, data and an analytical purpose.
Practical Perspective
Modelling may use mathematical, statistical, simulation, business or Machine Learning models. The choice should follow from the purpose of the analysis and the quality of the available data.