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Google has unveiled a new and improved version of Google Analytics at the eMetrics Summit in San Francisco. The new version includes a re-designed reporting interface with greater customization and collaboration features. The data presentation is now more clear and contextualized so you would not have to go through multiple charts to gain insight into one aspect of your web site, rather just one chart will do the trick.

Some of the key improvements include:

• Email and export reports: Schedule or send ad-hoc personalized report emails and export reports in PDF format.
• Custom Dashboard: No more digging through reports. Put all the information you need on a custom dashboard that you can email to others.
• Trend and Over-time Graph: Compare time periods and select date ranges without losing sight of long term trends.
• Contextual help tips: Context sensitive Help and Conversion University tips are available from every report.

Although Google does not generate any direct revenues from Google Analytics, but its a handy tool for marketers to see how their site is accessed, used and what are the most important keywords on Google that send in visitors to the site. This information is then used to buy keywords on AdWords and manage better marketing campaigns.

Google Analytics is a result of Google’s acquisition of Urchin a web analytics company which used to charge $495 per month for the same service. When Google bought the company and offered the service for free, the demand soared to such an extent that Google’s servers were unable to handle it and they had to temporarily shut down new signups. This is the first major upgrade of the service ever since the buyout and is surely a valuable one.