If the system is large, it would probably be best to hire a professional engineer experienced in such testing. There is a lot of knowledge and preparation involved in getting a meaningful test and avoiding damaging the battery.
Yes, you should record voltage (of every cell if possible) and current as a minimum. The time interval is up to you. You should have at least 5 readings during the discharge. 15 or more is much better.
A discharge test will help you determine the condition of the battery. You can determine the total capacity, find bad cells, bad connectors, etc. It is the best (but not definitive) way to know the battery is likely to perform when called upon by the UPS.