If you're using our out-of-the-box reporting, there's two places in the Reports tab you can leverage to track basic metrics for LookUp usage:
Application Usage Report: Click the "Filtered" button in the top right-hand corner and type "LookUp" in as the module.
Content Search Terms Report: Click the "Filtered" button in the top right-hand corner, then navigate to the "Searched In" field and choose any or all of the LookUp options from the dropdown list.
Please reach out to your Customer Success Manager if you have any questions!