1. A method performed by a computing device to compress medical data, the method comprising: receiving, by the computing device, the medical data that represents one or more physical attributes; identifying, by the computing device, a first region and a second region in the received medical data by: characterizing a utility of different signal segments by analyzing one or more sets of diagnosis results for a first diagnosis, the utility corresponding to how important each of the signal segments is to the first diagnosis compared to other signal segments, identifying a unique combination of features in each of the signal segments, and deriving one or more algorithms for automatic feature identification using at least one of a pattern matching technique or a statistical technique to segment the received medical data into the first region and the second region such that each of the first region and the second region has a same utility value; computing, by the computing device, a first entropy for the first region and a second entropy for the second region; computing, by the computing device, a first utility value and a first feature for the first region, and a second utility value and a second feature for the second region, wherein the first utility value is representative of a relative measure of how important the first region is to the first diagnosis compared to the second region, and wherein the second utility value is representative of a relative measure of how important the second region is to the first diagnosis compared to the first region; computing, by the computing device, a first rating for the first region and a second rating for the second region, wherein the first rating is a function of the first utility value and the first entropy, and the second rating is a function of the second utility value and the second entropy, and wherein the first rating is proportional to the first utility value and inversely proportional to the first entropy, and the second rating is proportional to the second utility value and inversely proportional to the second entropy; determining, by the computing device, whether the first rating is greater than the second rating; in response to determining that the first rating is greater than the second rating: compressing, by the computing device, the first region of the received medical data using a first compression technique, and compressing, by the computing device, the second region of the received medical data using a second compression technique, wherein the second compression technique is more lossy than the first compression technique; and in response to determining that the first rating is less than or equal to the second rating: compressing, by the computing device, the first region of the received medical data using the second compression technique, and compressing, by the computing device, the second region of the received medical data using the first compression technique, wherein the first region and the second region are respectively compressed in accordance with a compression technique selected based on at least a measure of how important that region is to the first diagnosis and respective entropy for the first region and the second region.