What is Google Analytics

Google Analytics shows you how people found your site, how they explored
it, and how you can enhance their visitor experience. With this
information, you can improve your website return on investment, increase
conversions, and make more money on the web.

Five important things you can do with GA:

AdWords advertisers can make Analytics available right in their AdWords account as a separate tab through a simple linking process. Advertisers can review extra data for their online
campaigns by tracking landing page quality and conversions (goals), and
pick out their highest performing ads.
You can also use Analytics to track other Google products including AdSense,Blogger
and Google Sites
See which pages drive the most pageviews on your site from the Top Content report. This report can answer questions you have about your most or least effective pages - for example, a high
bounce rate indicates a landing page that should be redesigned or
tailored to the specific ad which links to it.
Which groups of visitors became customers or did something else important to the success of your business? You can get key insights for these questions by setting
up goals.
Grant other people in your company or organization access so that they are restricted to viewing reports in a profile or given full access to help manage your entire account as an administrator.
There are over 80 reports with customizable, drag-and-drop interfaces. You can also create your own reports with Custom Reporting, create the segments you want to see with Advanced Segmentation, or view multi-dimensional views of your data with Motion
Charts.

I check Google Analytics daily and it is a wonderful tool. It actually is essential if you are really serious about growing your website traffic!
Getting Started with Google.

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