We present the analysis of the spin signals obtained in NiFe based metallic lateral spin valves. We exploit the spin dependent diffusive equations in both the conventional 1D analytic modeling as well as in 3D Finite Element Method simulations. Both approaches are used for extracting the spin diffusion length $l_{sf}^{N}$ and the effective spin polarization $P_{eff}$ in Py/Al, Py/Cu and Py/Au based lateral nano-structures at both $300,K$ and $77,K$. Both the analytic modeling and 3D Finite Element Method simulations give consistent results. Combination of both models provides a powerful tool for reliable spin transport characterization in all metallic spin valves and gives an insight into the spin/charge current and spin accumulations 3D distributions in these devices. We provide the necessary ingredients to develop the 3D finite element modeling of diffusive spin transport.