According to Avisnash Kaushik, author of the highly recommended book "Web Analytics: An Hour A Day", Web Analytics 2.0 is:

1. the analysis of qualitative and quantitative data from your website and the competition,
2. to drive a continual improvement of the online experience that your customers, and potential customers have,
3. which translates into your desired outcomes (online and offline).

In the world of Web Analytics 2.0 clicks don?t rule rather it is the combination of the ?head and the heart? where you care just as much about what is happening on your website as you do about your competitor?s all the while automating as much decision making as you can so you eliminate reporting and even to some extent some analysis. Your world is one of continuous actions (surveys, testing, behavior targeting, keyword optimization?) and continuous improvements where customers rule.

Get the full story at Occam's Razor by Avinash Kaushik