What is meant by "Modeling the world"?

We want to create a virtual world (IT-system) that is one-to-one with the (future) physical world. • The physical world has a structure • An event in the real world might have an effect on our virtual world We want to model the “world” that is in scope: • Model the Entities we want to manage • Model the data (Attributes) we need for our purpose • Model the Relationships between the Entities is scope