I do tests 3-4 times a year - the last years mostly ICP-MS - otherwise ICP-OES. I have done this for 10 years now - before ICP-MS it was only ICP-OES. This means that I have a huge baseline how my tank looks like from the chemistry point of view . When I test - I also use to check my own measurements. I do not use regular WC - the MS tests is mainly giving me information how to adjust trace elements in a safe way.
As some has highlighted - one test its only a snapshot - hence - as more different snapshots you have - the more reliable analyses you can make when you observe changes in the aquarium. Just taking a test when you get into trouble is, for me, pointless because you don't know the normal values in your aquarium. If ICP testing is to be of any help, you should take regular tests. As for the trace elements that require ICP-MS, the company I use the most (OCEAMO) offers a customized mixture that will provide the aquarium with what is missing for 100 days. For me - taking 3-4 tests per year is quite enough for me to get the information I need.
As an example - my tin concentrations. Out of the blue I suddenly had nearly 24 µg/L around 3 years ago. source unknown - and still are. I couldn't see any obvious negative consequences that could be directly traced to this result. The value decreased but reach a new peak 2 years ago. Still no obvious negative consequences. It has slowly decreased over the past two years.
What I learned from this with the help of ICP?
1) I received a warning that made me examine the aquarium carefully
2) the value itself did not seem to negatively affect the aquarium
3) it decreased over time
4) the problem was not gone - it returned
5) it has steadily decreased over the last 2 years and it seems that the source - still unknown has disappear or is under control. And last but not least - it has at calmed my nerves but to be honest - it was also the reason that they start to spin three years ago

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If you use lanthanum - ICP-MS is my preferred analysis because I have noted that MS give results where OES show zero. Personal communication with people that send both analyses the same time confirm this.
Is ICP necessary for a successful reef aquarium - IMO - definitely not
Could ICP (and mostly ICP-MS) be a good tool in order to achieve a successful reef aquarium - IMO - if used and understanded right - definitely.
Sincerely Lasse