Let's look an example.
Say I'm a circuit designer. I have a good understanding of circuits, but I'm designing something very complicated. In the past, I would have no choice but to build the circuit as best I could and run tests. If it was wrong, I may need to rebuild the whole circuit. This takes time and money.
Today, I can model my circuit with CAD. Each part, it's true, have been modeled using experimental tests, but *my* circuit hasn't. I can build my circuit, test it (much easier with CAD than on a breadboard, btw) and see if it works. If not, I make changes (for free because I'm not using parts) and then test again. When it looks like it works, I'll make an actual prototype to confirm, but I've saved myself a lot of time and money.