Why is studying the Hebrew Bible and commentaries such as the Talmud so important to Jews?

The Tanakh or Jewish Bible is considered to be God's revelations to mankind, providing the key instructions on how to behave in the highest ethical manner. The commentaries like the MishnaH, Talmud, Shulchan Aruch, and numerous other such books expand and interpret the Words of the Torah, the first part of the Tanakh. These expansions and interpretations serve to make the rules of the Torah applicable to daily circumstances and life-issues.