In science, the term "theory" refers to "a well-substantiated explanation of some aspect of the natural world, based on a body of facts that have been repeatedly confirmed through observation and experiment.” Theories must also meet further requirements, such as the ability to make falsifiable predictions with consistent accuracy across a broad area of scientific inquiry, and production of strong evidence in favor of the theory from multiple independent sources.
The strength of a scientific theory is related to the diversity of phenomena it can explain, which is measured by its ability to make falsifiable predictions with respect to those phenomena. Theories are improved (or replaced by better theories) as more evidence is gathered, so that accuracy in prediction improves over time; this increased accuracy corresponds to an increase in scientific knowledge. Scientists use theories as a foundation to gain further scientific knowledge, as well as to accomplish goals such as inventing technology or curing disease.
Example: theory of relativity
Taken from Wikipedia:
Scientific modelling is a scientific activity, the aim of which is to make a particular part or feature of the world easier to understand, define, quantify, visualize, or simulate by referencing it to existing and usually commonly accepted knowledge. It requires selecting and identifying relevant aspects of a situation in the real world and then using different types of models for different aims, such as conceptual models to better understand, operational models to operationalize, mathematical models to quantify, and graphical models to visualize the subject. Modelling is an essential and inseparable part of scientific activity, and many scientific disciplines have their own ideas about specific types of modelling.