Meta Ads analytics can become a spreadsheet full of numbers that never answer the business question. Start with the metric that represents the outcome you are buying.
For lead generation
Track qualified lead rate, cost per qualified lead, lead-to-sale rate and revenue per lead. CPL is useful, but it is only the first checkpoint.
For ecommerce
Review purchase volume, CPA, conversion rate, average order value, revenue and MER alongside Meta-reported ROAS.
Check tracking quality
Pixel and Conversions API coverage, event deduplication and correct attribution settings make the reporting more useful.
Turn data into action
Use weekly analysis to decide which creatives to scale, which landing pages to improve and where budget is being wasted.