For those not familiar with web analytics applications, this summary should give you a good idea of what you get for $0.
Filter your traffic based on domain, IP range, and advanced regular expression matching. This is useful for filtering out your own traffic so that your reports are accurate.
Track a path that you want a user to take, Google Analytics will report on the conversion rate. Useful for tracking a sucessful cart checkout, and other predictable paths that you want the user to follow.
Track External Links
Track clicks to sites you link to. This is important if you are getting paid by a target site on a per click basis. Even if you aren't getting paid per click, it is good to see how your users are leaving your site.
Add campaign codes in links that you send to users via email or links that you place on sites that you don't own. Google Analytics will track these campaigns so that you can get an idea as to how well they are performing.
Multiple Site Profiles
Set up multiple domains, and then set use different filters and campaigns for each.
This is useful if you want to track events that don't reload the page. For example you may want to not only track the page view, but also track that a user started playing a flash movie, and then track the number of users that watched the entire movie.
Track File Downloads
Track downloads like you would track a page view.
In short, it is a great service at a price that is unbeatable. I am wondering how the other players in this market are taking the news. In any case, I have added Google Analytics tags to three sites today, but unfortunately there is a 12 hour reporting delay, so I have not had a chance to take a look at the reporting tools yet. Tomorrow I'll see what the reports look like, but frankly I expect that they will be just as impressive as everything Google does.
See Also - Google Analytics: Report Overview
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