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Summary A treatment regime is a sequence of decision rules, one per decision point, that maps accumulated patient information to a recommended intervention. An optimal treatment regime maximises expected cumulative utility if applied to select interventions in a population of interest. As a treatment regime seeks to improve the quality of healthcare by individualising treatment, it can be viewed as an approach to formalising precision medicine. Increased interest and investment in precision medicine has led to a surge of methodological research focusing on estimation and evaluation of optimal treatment regimes from observational and/or randomised studies. These methods are becoming commonplace in biomedical research, although guidance about how to choose among existing methods in practice has been somewhat limited. The purpose of this review is to describe some of the most commonly used methods for estimation of an optimal treatment regime, and to compare these estimators in a series of simulation experiments and applications to real data. The results of these simulations along with the theoretical/methodological properties of these estimators are used to form recommendations for applied researchers.