About 4 years ago Facebook introduced its tool "Why am I seeing this ad??", but recently they made updates that you should know.
The most important thing is that now they show more detail of why an ad appears on Facebook. In the past, “Why am I seeing this ad?” Highlighted only one or two of the most relevant reasons, such as demographic information or that you have visited a website. While now show more detailed information, including interests or categories that matched a specific ad. It will also be clearer where that information came from (for example, the website you visited or the page you liked), and will highlight the controls that the user can use to easily adjust their experience.
They are also updating the Ad Preferences to show:
Learn the exact Bid Strategies, Audiences & Ads that Patrick has applied to over 120+ Brands to generate over €10,000,000 with their Facebook & Instagram Ads.