We all know back links are still a fundamental and critical ranking signal in any search engine butt it is also essential to evaluate back links properly. Creating huge back links without purpose makes no sense. How to evaluate Backlink Audit?
I evaluate backlinks manually. By seeing their hosting pages, referring pages, page relevancy, anchor text, anchor text to referred page relevancy, hosted page's authority, hosted page's ranking strength, hosted page's links etc.
From webmaster tool I do backlinks audit, check my all backlinks manually one by one. But I prefer to do site analysis before doing backlinks, I generally check sites' authorities, sites' relevance before building backlinks then all I get all good backlinks, whatever links I build Google considers as backlinks for my website.
I using SEOprofiler it gives me a full report of backlinks. Back Link Watch also the best tool to check the backlinks to your website for free.
You need to look at a mixture of their page rank, domain authority and page authority. There are plenty of toosl to do this
I use AHREFS as a base tool and then look at thing such as how many links point out on the site (some big sites point to thousands of others and thus reduce the value of the link, Forbes is a classic example of this, big authority but links to everyone so passes down very little juice), how many links on the page. I also look at is the content matching what I want to link to, is the site relevant to my niche but most importantly to me is will the link look natural.
You can download your backlink from Webmaster or ahrefs but you have to analyse it manually for better result for analyse you have to follow these point. Relevency No. of link from same domain DA Anchor Text etc.