1. A method for governing a modeling system, comprising: collecting information associated with an analytic model and one or more instances of the analytic model; defining one or more policies associated with the analytic model; defining one or more policies associated with the one or more instances of the analytic model; and monitoring automatically, using a processor, the analytic model and the one or more instances of the analytic model, the monitoring comprising monitoring over time, at least some of the collected information, the one or more policies associated with the analytic model and the one or more policies associated with the one or more instances of the analytic model, the analytic model comprising at least an analytic component and metadata comprising description of an analytic technique used by the analytic model wherein the analytic technique comprises at least one of mathematical modeling, statistical modeling, and data mining, the collected information associated with the analytic model comprising at least a model name, author, model version, description, result description, parameter values, and model sensitivity to one or more changes in one or more of the parameter values, names and descriptions of model input variables, names and descriptions of model output variables, and design criteria comprising at least types of input for which the analytic model is designed, wherein the monitoring automatically detects one or more conditions in which one or more results produced by the one or more instances of the analytic model are no longer valid, the one or more conditions comprising at least a change in one or more model assumptions based on which the analytic model is built, the one or more conditions detected further based on the sensitivity to one or more changes in one or more of the parameter values, and in response automatically updates the one or more instances of the analytic model, the automatically updating comprising one or more of editing an analytic element of the analytic model, replacing the analytic element of the model, or combinations thereof, and in response to detecting that the types of input for which the analytic model is designed has changed based on automatic monitoring, automatically selecting a different analytic model that produces more accurate result to replace the analytic model, and generating and sending an event signal to a component that relies on the analytic model, wherein the automatically selecting a different analytic model that produces more accurate result to replace the analytic model comprises substituting a classification tree based model for a logistic model.