When you shop for a car, one aspect you must consider is the car's performance relative to your needs. You might think about:
fuel consumption in the city and on the highway
cargo towing capacity, if you have a trailer
acceleration, braking and top speed
In the aviation world, we are concerned with similar elements. But as the plane is operating in three dimensions, and not restricted to the earth's surface, we can argue that aircraft performance is broader and more complex. Consider some of the following aspects of aircraft performance:
Payload and fuel capacity
Fuel consumption
Range and endurance
Climb and descent capability
Cruise performance at various altitudes
Speeds: minimums, maximums
Maximum altitude
Landing and takeoff distances
Atmospheric conditions: air pressure, temperature and humidity
All of these elements are interrelated, and when it comes to aircraft performance questions, usually the correct answer starts with "it depends..."
It is typical for airlines to have a team of aircraft performance engineers who provide guidance and support on these topics. For example, they may work on problems like:
managing standard operating procedures
measuring fleet performance
economic studies for existing and potential routes
location-specific studies for challenging airports, for example the Innsbruck Airport in Austrian Alps
Aircraft manufacturers publish detailed operating manuals for aircraft purchasers, which include sections about the aircraft's performance figures. In today's world these manuals are typically distributed digitally. Manufacturers like Boeing and Airbus also provide aircraft performance software packages that let operators and engineers interact in more detail with the performance data. For Boeing and Airbus these software packages are called BPS (Boeing Performance Software) and PEP (Performance Engineering Programs) respectively. These programs allow for in-depth studies to be undertaken, including scenario simulations computed from first-principles physics. Since these programs are not available publicly, operators do not expect students to know how to use them. They are taught on-the-job or in specialized training classes in Seattle or Toulouse.
Another resource for getting performance data is Eurocontrol. Eurocontrol maintains a database called BADA (Base of Aircraft Data). To access it you need to submit an application. From their description:
[At] EUROCONTROL, we spent decades building the most comprehensive and accurate aircraft performance model in the world.
BADA is the international reference for aircraft performance modelling for the purposes of trajectory prediction and simulation.
We provide BADA to the international aviation community - a large user community comprising research institutions, universities and air navigation service providers (ANSPs), as well as ATM suppliers - in addition to using it ourselves.
X-Plane makes physical realism one of its main points in its marketing; however, we have observed in this flight planning project that the operating manual that comes with the default 737-800 does not include any aircraft performance data, except for a few fuel planning pages. It is a generic model; we do not even know which engine version it is supposed to have. I would not necessarily call this a shortcoming. X-Plane 11 ships with 22 aircraft models, and it would be unrealistic to expect X-Plane to be able to provide detailed performance data accurately matched with simulator performance for all these models, without hiking development costs and the retail price of the game.
So, it may be better to say that X-Plane as a platform takes a physics-based approach, and if you want a high fidelity recreation of a real-world aircraft, you need to purchase a professionally developed payware version of that aircraft.