A representation of a system that allows for investigation of the properties of the system and, in some cases, prediction of future outcomes. Models are often used in quantitative analysis and technical analysis, and sometimes also used in fundamental analysis.

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The hedge fund had levered it's position for future inflation that they predicted, but their model of the economy was flawed, and they lost a money when their prediction failed.

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In science classes, students are often required to construct a model of the solar system to gain a better understanding of the location of the planets in space relative to the sun.

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My department manager insisted that I show our company CEO my model for predicting new iron prices in the coming months because he believed it had been accurate in the past.

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exogenous variable numeraire