In probability theory, a Markov model is a stochastic model used to model randomly changing systems where it is assumed that future states depend only on the current state, not on the events that occurred before it (that is, it assumes the Markov property).
A Markov model is a stochastic model. This is in probability theory. This stochastic model is used to model randomly changing systems where it is assumed that future states depend only on the current state, not on the events (that is, it assumes the Markov property). These events occurred before it.