ADS1015: Single shot wait time, averaging, hardware vs software comparator

Part Number: ADS1015

Tool/software:

I'm working on a project that includes an ADS1015 ADC. 

I've read here that single shot mode is preferred over continuous mode so I was wondering which is the best way to wait for the conversion to complete. 

I have a function that checks bit 15 for a 1 or 0 to see if the ADC is still busy. Is this the best way to wait for the conversion to complete? Or should I just use a static delay based on sample rate? Or maybe even use the alert pin to alert the MCU when the conversion is complete?

My second question is about averaging samples to weed out any noise in the signal. I am currently taking 10 samples and averaging the sum but I was wondering if there might be a better way to do this. 

And lastly, what advantages is there to use the built in hardware comparator vs just using the mcu to check against the same constraints. So far I have just use single-shot measurements to do everything but my design does have the alert pin connected to the MCU so I could use it if needed. 

Thank you!