I'd like to know whether it is a good idea to use SSRS for db monitoring or not? I want to check different parameters of a db such as Deadlock, page splits, and page reads/sec to improve db performance. Any comments would be appreciated.
SSRS (SQL Server Reporting Services) isn't a monitoring tool, it's a reporting tool.
You can absolutely use it to develop your own reports, but you'll have to be collecting the data, first. SSRS will not help you collect or analyze the data, but it will be able to present the data in whatever way you like and develop the reports to behave (such as varying parameters, etc.).