Grafana, an open-source visualization tool for time series data, can be effectively used with InfluxDB, a time series database built specifically for storing time series data. The integration between Grafana and InfluxDB allows for a seamless setup, where Grafana calls the InfluxDB API to query data. To set up Grafana monitoring with InfluxDB, users need to download both applications and configure them accordingly, including setting up a collection agent such as Telegraf. It's recommended to use the latest browsers for best performance. Users can customize their graphs by selecting fields, aggregators, and transformations, and optimize time series monitoring by using collapsible rows, reducing queries, and caching data. Additionally, users should monitor Grafana security settings, including enabling anonymous access and password resets, and configure logging options to prevent errors and improve performance.