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A model in science is a physical, mathematical, or logical representation of a system of entities, phenomena, or processes. Basically a model is a simplified abstract view of the complex reality. Models are meant to augment and support humans reasoning, and further can be simulated, visualized and manipulated.
[Bertini and Lalanne, 2009]

see Knowledge Discovery for an explanation of the relationship between Data, Information, Insight, Model, Pattern, Hypothesis, Knowledge and Knowledge Crystallization.