Light detection and ranging (lidar) systems have gained a great importance in today’s wake characteristic measurements. The aim of this measurement campaign is to track the wake meandering and in a further step to validate the wind speed deficit in the meandering frame of reference (MFR) and in the fixed frame of reference using nacelle-mounted lidar measurements. Additionally, a comparison of the measured and the modeled wake degradation in the MFR was conducted. The simulations were done with two different versions of the dynamic wake meandering (DWM) model. These versions differ only in the description of the quasi-steady wake deficit. Based on the findings from the lidar measurements, the impact of the ambient turbulence intensity on the eddy viscosity definition in the quasi-steady deficit has been investigated and, subsequently, an improved correlation function has been determined, resulting in very good conformity between the new model and the measurements.