The April 13, 2012 issue of Science is devoted to Computational Biology and has an interesting and informative article on furthering our understanding of the course of evolution through the use of computational genomics. Below is a quote that sums up the role and potential of computational genomics, but I found the whole article (including the figure on pg 181) to be a helpful overview of the basics of building and evolving genomes, genomics and the potential application of the knowledge that can be gleaned by reducing genomes to bits.
From Integrating Genomes, Zerbino, et al. Science 13 April 2012,
Combining evolutionary, mechanistic, and functional models, computational genomics interprets genomic data along three dimensions. A gene is simultaneously a DNA sequence evolving in time (history), a piece of chromatin that interacts with other molecules (mechanism), and, as a gene product, an actor in pathways of activity within the cell that affect the organism (function).