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How SPO2 monitoring is used to diagnose health problems(the readings to determine what type of health issue is going on?

My team and I are working on a project to come up with an application that is invasive for monitoring SPO2 levels.Please research and write up the uses of SPO2 level monitoring. This application is going to be used in medical field.I need a detailed explanation of what SPO2 is? what does the level meant? Different types of health problems SPO2 level results detects? How SPO2 monitoring is used to detect any other health related problem. How SPO2 monitoring is used to diagnose health problems(the readings to determine what type of health issue is going on?)