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"Markov process" is correct and usable in written English.
You can use it to refer to a random process where a system changes states randomly, with the transition probabilities between states fixed for the given process. For example, "The system can be modeled using a Markov process to account for the random changes in its state."
Dictionary
Markov process
noun
A stochastic process in which the probability distribution of the current state is conditionally independent of the path of past states.
synonyms
Exact(59)
This process is a Markov process.
Modeling Conversational Dynamics as a Mixed Memory Markov Process.
Then, the cluster transitions are modelled as a Markov process.
A finite state Markov process describes the mission process.
The damage development is modelled as an embedded Markov process.
An example is the Markov process describing Peter's fortune during the game of gambler's ruin.
A Markov process that behaves in quite different and surprising ways is the symmetric random walk.
Now, is a continuous-time Markov process.
The nature is the Markov process.
This implies a hidden Markov process.
Moran's theory is based on Markov process.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com