Maintaining SQL Server environments is supported by a dependable monitoring system and regular reporting of health indicators.  Monitoring and reporting , although both supplying information, serve different purposes.

Monitoring focuses on immediate situations : SQL Server monitoring situations - SQL Server DBA

Reporting focuses on environmental and server wide deviations occurring in the course of daily SQL Server – Daily Health Check Script with ... - SQL Server DBA

The key to an effective monitoring framework is  isolating the important\critical\fatal events. For example, creating an alert for the CPU hitting 50% is not as critical as the database is offline. I’ve worked in different SQL Server shops where there are to many monitoring alerts occurring creating extra noise for the DBA team, eventually the DBAs start missing the critical events causing extra downtime

The key to useful reporting is identifying the relevant data required to maintain the SQL Server environments. Typical areas include SQL Server security policy exceptions, database file configurations, SQL Server Error Logs. Extra Tip: Retain the reports in an archive for future reference in troubleshooting and audits.

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