A company that wants to make a chemical often has more than one reaction pathway to choose from. It compares them using data. The atom economy shows how much of the reactant mass becomes the desired product. The yield shows how much of the product you really get compared with the maximum possible. A route with a high atom economy but a low yield can still waste a lot of reactants.
The rate matters because a slow reaction needs more time and more plant, which costs money. For a reversible reaction, the equilibrium position matters too. If the equilibrium lies towards the reactants, only a small amount of the reactants is converted into the product, so the yield is low unless the conditions are changed or the unreacted material is recycled.
Finally, look at the by-products. A by-product that can be sold or used is much better than one that has to be disposed of as waste, because it earns money and reduces the waste. The best pathway is usually the one that balances all of these: high atom economy, high yield, a fast rate, an equilibrium that favours the product and useful by-products.