A model is the piece of machine learning technology that can take a given text, analyze it, and predict results.
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Models can learn over time. With more inputs and curation they can be trained to predict more accurate results and for a lot of text data at once. Because of this, models are usually specialists at specific tasks. 

For example, some are used in classifying for sentiment or emotion (these models are called classifiers) others are used to extract data points or entities from text (these models are called extractors).
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At MonkeyLearn we offer public models that anyone can use, and we also offer the ability to create your own custom model.