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Google is an amazing free tool and is extremely customizable. I use it for A/B testing (using google content experiment), Lean Analytics (measuring goals based on events), and it's new asynchronous JS has made a lot of tracking easier.
However it takes a lot more configuration to set up cohort studies and user based analytics than other analytics platforms. It is possible to do however: http://analytics.blogspot.ca/2013/03/get-useful-insights-easier-automate.html
If you need something free this is definitely your best option.
I mainly use it to trace how many user using it before my site get monetized, at the age before smartphone and we only have web site, now I look at the profit rather than web page visited. As web page is not the single interface now. Android, iOS, Web. Wasting time to set up one by one. so I just simply look at revenue.
Google Analytics is a freemium web analytics service offered by Google that tracks and reports website traffic. Google Analytics not only lets you measure sales and conversions, but also gives you fresh insights into how visitors use your site, how they arrived on your site, and how you can keep them coming back.
Google Analytic is setup with user id tracking, allowing to view traffic for logged in users only, as well as custom events based on video watching and conversion goals for purchases. The Google’s autotrack plugin provides additional tracking of click events.
We installed Google Analytics. Can we haz data science now? We ares teh bestest analytics gurus evar!