Those parameters are measures of different things, all of which can be important depending on the usage of the treated water.
TDS (total dissolved solids) is a measure of the amount of ions in the water. Think of it as a general measure of mineral salts. Expressed in mg/L or parts per million.
COD (chemical oxygen demand) is more specific. It's an indirect measure of the amount of oxydizable compounds in the water, which can be organic molecules, but also mineral salts. Expressed in mg/L or parts per million.
EC (electrical conductivity) is similar to TDS. They are usually considered proportional (that's not strictly true) so you can use one or the other, just adjust your control values. EC is measured in microSiemens/cm.
Other important factors can be pH, TOC (total organic carbon), BOD (biochemical oxygen demand), bacterial total viable counts... It depends! Using only one parameter for water quality evaluation is usually not possible.
For industrial applications (process water), you probably want to prioritize EC (or TDS), TOC and bacterial TVC.