Applications
Markov processes are used to describe physical processes where a system evolves in constant time. Sometimes, rather than a single systems, they are applied to an ensemble of identical, independent systems, and the probabilities are used to find how many members of the ensemble are in a given state. A master equation treatment is often used to analyse systems that evolve as Markov processes, with approximations possible for complicated systems.
Read more about this topic: Continuous-time Markov Process