I went through a few stages with it when I first got it.
First few days, just really used it to pick up on developing hypos so I could stop them before going too low.
Then started spotting slow slides which would eventually take me below 4 and found that really small amounts of carbs like 3 to 5 grams would nudge it back up into line without any danger of overtreating and ending up high.
Then used it to deal with "foot on floor" - if I wake at, say, 5, I'll easily go to 8 within an hour just by getting up and moving around, so learned to pin that by taking 2 units just to keep it line.
I also use it to keep an eye on developing hypers. On strips/DAFNE, the emphasis is on not testing between meals unless you feel hypo and save corrections till meals. To hang with that. If I see it heading towards being out of range, I'm not slow to take a 1 or 2 u correction between meals to keep it in range. Much easier to do little tweaks like that instead of taking a sledgehammer correction dose at a meal.
And great for basal testing overnight.
If you've got a kindle, there's a couple of good books on getting the most out of cgm. Sugar Surfing by Stephen Ponder and Beyond Fingersticks by William Lee Dubois.
If you plan on using it long term, there's an easy way to turn it into full on cgm. Ambrosia Systems make a small transmitter called Blucon. One off cost of £100 plus £25 shipping, pop it on top of the sensor, it reads it every 5 mins and sends the reading to a phone app xDrip+. It gives hypo and hyper alerts and a whole stack of other things. The graph is way more detailed so you can predict things better.