Okay, so you know how when you buy new shoes or clothes, you try them on in the store to make sure they fit you right? Well, computers also have to try on different "clothes" (or models, in this case) to make sure they can accurately predict things.
A fit model is like a computer trying on different outfits to see which one fits the best for the specific task at hand. The computer is given a bunch of data (like numbers and information) and the fit model tries to find the best combination of things that will accurately predict what is going to happen next (like what the weather will be like tomorrow or who will win a soccer game).
The fit model has to try lots of different combinations, like trying on different shirts and pants. It keeps making adjustments until it finds the best fit, just like how you might adjust the laces on your shoes to make sure they feel just right. And when the fit model is done, it can give really good predictions so we can know what might happen in the future.