So ...

Upon activation, go to AdRotate => Adverts and click the "Add New" link in order to create your first ad. Give it a name (which will help you to identify it within your WP admin area) and simply insert the ad code provided by your advertising network (for example Adsense):

Note: you can also generate your own ad code if you are running self-hosted ads. In which case you can upload your own banner images and enable click tracking.

Now make sure that the "Yes, this ad will be used" option is selected in the "Activate" drop-down list and scroll down a bit to configure the usage & schedule options. As you can see, this is where you'll find the shortcode that will allow you to display your newly created ad in any post, page or widget area:

Finally click the "Save Advert" button.

And of course, you can repeat this process to create as many ads you want. For any supported advertising network.

OK. Now let's see the actual ad management part.