Footprints indicate how long the distance it between you and wild Pokemon. You are close to wild Pokemon as footprints decreases.
Once another wild Pokemon appears around of you, nearby Pokemon data is updated.
You may see the leaves while you are walking around the map. The spot with leaves is where you can find wild Pokemon easily.
Since wild Pokemon may leave your location as time passes, you may capture rare Pokemon or Pokemon not registered Pokedex yet.
Lure Module & Incense attract Pokemon every 5 minutes withing 30 minutes. Attracted Pokemon stays only 2 and half minutes if you do not capture them.
Even if wild Pokemon caught by another Pokemon Go player, you can capture it in same place.
What is DPS and EPS in Pokemon Go?
Kabuto nests and spawn locations
Pokeball Chart and How to Get Great/Ultra Ball
List of Items and Bag/Pokemon Storage Upgrade