It is possible that i could not exactly understand the meaning of your question. A compact model is that model that describes the major performance of the device with minimum number of model parameters. For example, the basic performance of the bipolar transistor can be described with a current controlled source in the active mode, a constant voltage source in the saturation region and consultant voltage source in the breakdown region.
The parameters of such model is the reverse saturation current of the transistor, its beta, the current amplification factor in common emitter mode, VCEsat the saturation collector to emitter voltage and the break down voltage BVCEo.
On the other side there are comprehensive models that describes the device characteristics under all practical operating conditions taking into consideration the static, the dynamic and small signal of the device performance. As an example is the Gummel-Poon model of the bipolar transistor which has more than 20 parameters. This model is recommended as the SPICE model of the bipolar transistors.
So, in summary the compact model is an abstraction of the detailed model. It takes on the most sensitive parameters of the model.
Technically speaking, the compact model describes the device behavior, analytically (by mathematical equations), as a function of bias conditions and device geometry.
Here is some of the models supported by the Compact Model Council (CMC):
BSIM3 and BSIM4 for MOSFETs from UC Berkeley
PSP (Penn State-Philips), which is another MOSFET model.
BSIMSOI, a model for silicon on insulator MOSFETs.