To asses the quality of your product or a release, you need to look at various metrics.

- Total Defects in the system; creation vs closing rate
- Code Coverage Statistics
- Test case pass rate
- State of the CI (Continuous Integration) build
- Nightly deployment build status

These metrics are in different sources.
Defect data from Jira (or similar defect management system).
Build data from Jenkins (or similar CI system).

Think about having all the above metrics at one place;
Automatically generate your release reports and determine the health of your current release.
Build the intelligence to report the status based on various rules.
(For eg..if the Code Coverage is < 85%, show the status as RED).