Modelling


Online Foresight Guide

Modelling is the attempt to reproduce real-world relationships within a mathematical or computer model.

It involves defining and quantifying relationships and building these into an internally self-consistent model that can then be subject to various forms of manipulation. The model may be relatively simple, e.g. involving forecasts of local traffic flows; or it may be complex, e.g. attempting to represent economic or environmental systems.

from © Richard A. Slaughter, 1997
Foresight International [ www.foresightinternational.com.au ]

Modelling is mostly a forecasting method.

See also :

Related Key Terms

- Forecasting
- Strategic Planning