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In business, time management has become a science, but it still depends on what your priorities are. Likewise, pay per click bid management depends on the time you're willing and/or able to devote. This is doubly true when it comes to pay per click analysis. You may decide to spend two hours on one pay per click report, which can be impractical when you have 50 orders to fill, 100 customer e-mails and the phones ringing off the hook. You might also scan your pay per click reports when you have a spare moment, which may not be the best solution either.
On the other hand, if you need to devote three hours to pay per click analysis and your business can allow you that time, do it. Even then, consider investing in a pay per click tool that tracks and analyzes your results. If you delegate this job to a marketing expert, service or software, insist on regular progress reports.