Before a new bridge opens to traffic, engineers test it. They check the design, inspect the materials, load it with weight and look for weak points. Nobody asks the builders to simply promise that it is safe. An independent check is part of the process, because the cost of being wrong is too high.

Models used in business deserve a similar approach. A model that helps decide who gets a loan, how an insurance policy is priced or which transactions look suspicious can affect many people and a lot of money. Model validation is the independent check that asks whether a model is fit for the job it has been given. If you are new to the idea, this guide will explain it in plain words and show how a beginner can understand and support the process.

What Is Model Validation?

Model validation is an independent review of a model to judge whether it is sound, works as intended and is appropriate for its purpose. It looks at how the model was built, how well it performs and how it is used.

The word independent matters.…