How to choose the best cryptocurrency mining software?

In the world of cryptocurrency mining, selecting the optimal software can be a daunting task. Could you elaborate on the key factors one should consider when deciding on the best cryptocurrency mining software? Should we prioritize the mining efficiency, ease of use, or the compatibility with specific hardware? Are there any open-source options that offer flexibility and transparency? Furthermore, how do we ensure the software's security, especially in the face of evolving threats? Additionally, what are the latest trends in mining software, and how do they impact profitability? I'm keen to understand the nuances involved in making an informed decision.