The Benefits of Using Google Analytics for magento:
Using Google Analytics for ecommerce conversion tracking is one of the best things you can do to ensure your business is on track for success. It's good in practice to use ecommerce tracking to find out what users buy through your site or app, including information about:
Products: Which products they buy, in what quantity, and the revenue generated by those products.
Transactions: The revenue, tax, shipping, and quantity information for each transaction.
Time to Purchase: The number of days and number of sessions it takes to purchase, starting from the most recent campaign through the completed transaction.
Steps to configure your magento store for google analytics:
step 2: sign in with a google id or create an google account.
step 3: Select the Admin tab into your google Analytics account.
step 4: In the ACCOUNT column, select Create new account from the dropdown menu.
step 5: Click Web site or Mobile app.
step 6: Now, fill the entries as shown below and click on get tracking id.
step 7: Now, go to your magento admin panel.
step 8: Navigate to System -> Configuration -> Sales -> Google API and expand the Google Analytics section.
step 9: Pick the Yes option from the Enable drop-down menu. Enter your Google Analytics Tracking ID into the Account Number field. Additionally, pick Yes option from the drop-down for Enable IP Anonymization.
step 10:Then, click on save config. You're all done.