The document discusses statistical modeling in the pharmaceutical industry. It notes that statistical modeling is one approach used to address challenges related to cost, time, and quality in drug discovery and development. The goals of statistical models include understanding the mechanisms by which data is generated and extracting information from data. Statistical modeling aims to translate known properties and hypotheses into mathematical representations. This allows for simplified descriptions of experiments and mechanisms. The identification of appropriate models requires thorough investigation. Descriptive models aim to describe data structures while mechanistic models seek to understand underlying phenomena. Statistical modeling has advantages of reducing costs and time while improving success rates.