AWS CloudWatch provides build-in metrics to help monitor Lambda functions

• - The number of times your function code is run, including successful runs and runs that result in a function error.
• - The amount of time that your function code spends processing an event.
• - The number of invocations that result in a function error. Function errors include exceptions thrown by your code and exceptions thrown by the Lambda runtime.
• - The number of times that a process failed because of concurrency limits. 
• - Pertains to event source mappings that read from streams. The age of the last record in the event. The age is the amount of time between when the stream receives the record and when the event source mapping sends the event to the function.
• - For asynchronous invocation, this is the number of times Lambda attempts to send an event to a dead-letter queue but fails. 
• - The number of function instances that are processing events.

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Reference

AWS Skill Builder