There's lots of data in Adwords campaigns. Every single bit of information can be analyzed and lead to insights and help improve the campaign. I do so on dozens of fields: am I showing in my desired position? Is the conversion rate leading to a desired ROI? What's the QS? What is the first position bid and how does this compare to my bid? Could I be targeting other keywords? Any negatives? What's the trend in the last month, quarter and is the campaign improving or not? What's my share of impressions and what can I do to improve? Should I be targeting mobiles? What was the effect of ad extensions? Etc, etc, etc.
Also, you need to have enough significant data before making any changes. It's not about time like a week. It's, is there enough clicks? You shouldn't and can't imply anything on a couple of clicks. My standard is minimum 25 on each and often more is better. I have two active ads so before deciding which is better, both ads need 25 clicks. That could take weeks and sometimes months. You can't just think, it's been a week let me check and make some changes just because it's been a week. You need the data to guide you but if you don't have enough data, there's really nothing you can do.