The rate of reaction tells you how fast a reactant is used up or a product is formed. To measure it you need a quantity that changes and the time it takes to change. You can measure the volume of gas collected in a gas syringe, the loss of mass as a gas escapes from a flask on a balance, or the time for a cross under the flask to disappear as the mixture goes cloudy.
On a graph of amount of product against time, the slope shows the rate. A steep line means a fast reaction. The curve becomes less steep as the reactants are used up and is flat when the reaction has stopped. The slope of a tangent gives the rate at one moment.