Precision medicine is a data-driven medical approach that bases medicial decisions on invididual patients by using and individual patient characteristics. The approach is also called stratified medcine or personalized medicine. Some also call it P4 medicine whereby P4 stands for personalized, predictive, preventive and participatory. All these terms have in common that patients are stratified based on their disease subtype or risk using specialized diagnostic tests. This also includes specific disease prognosis or patient treatment. Therefore, precision medicine uses individual patient characteristics and biomarkers rather than an average over a whole population. More details on precision medicine can be found here. There are a wide variety of precision medicine benefits.