When place over a pulse in the right place you can get very accurate information from those heart monitor devices. I use mine while walking and they are great.
Heart rate monitor tells you the rate of your heart beat when you do your exercise.It helps you when to put more effort into a workout, when to slow down and when it is critical to rest.
Heart rate monitor watches are accurate enough for personal use, but are not as accurate as clinical instruments a doctor would use. For tracking heart rate during exercise it would be sufficient.