One is to look back over the family tree. Using the child's name as a namesake is a way of honoring those who came before us, our parents or grandparents. Some names, however, have not kept up with the times. While it might make your great Uncle Ebeneezer swell with pride, your son would surely pay the price at Christmastime each year. And Grandma Hilda might burst with joy, but your daughter would surely not appreciate to be stuck with that name.
Some parents like to choose unusual names for their children, so that they stand out in the crowd.
The meaning is provided more as an interesting aside. It is hard to find the perfect balance between finding a name that is unique and special but doesn't seem too strange. You will have to determine your priorities. There are benefits and disadvantages to both having a common name and a very unique name. Common names are easily spelled and recognized and may cause your child less problems in the schoolyard in early years.