I’m running a simple Mychron 3 so all I use is the RPM trace. Here’s an example:

All three laps are within a tenth of a second to one another. None are perfect – or really good for that matter. The red is the fastest. This section of the plot shows two corners and a chicane – a long sweeping right-hander followed by a right-left chicane, and a tight left (turns 4, 5, and 6 at GoPro Motorplex).
First corner: BLACK takes the corner best. YELLOW brakes too late and pushes on entry to the apex. RED get a little wheelspin and goes loose on exit.
Chicane: RED takes the chicane best – almost perfect with a slight lift but then back on the throttle. BLACK enters too fast and must back off. YELLOW isn’t carrying enough speed as a result of the previous corner’s mistake.
Last corner: RED looks good. A little lock-up (the RPM plateau’s), then braking continues. Smooth apex and good exit. BLACK pushes on entry and has to back off. YELLOW again brakes too late, pushes on entry, overcompensates and gets loose on exit.
Looking at all three together, you can begin to see how a better lap might benefit from aspects of both BLACK and RED combined.