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ClickZ Expert Shane Atchison   provides a virtual Cliffs Notes version of Web analytics for busy Chief Marketing Officers by highlighting five things they need to know:

First, the Web analytics technology landscape has changed forever, thanks to Google. Akin to free checking in banking, now Web analytics technology will become a commodity with the release of “free” Google Analytics (free to advertisers in its AdWords program). Atchison says the market will now focus more on how to use the tools, not just the technology behind it.

Second, at a time when Web KPIs are going wild, marketers are looking for simplicity. Atchison argues that it is more important to worry about the key metrics that matter to you, not on all the data and reports that are available.

Third, get busy and make your marketing scorecard or dashboard now. Atchinson asks, “What’s the primary goal of your site? What are the key metrics that will measure performance of that goal?” Focus on that. And get going. Now. 

Fourth, Atchison says to focus on driving an ROI mindset by mapping out metrics and building them into employee reviews and comp plans.

Finally, look ahead to the next wave of “optimization.” Atchison says leading marketing organizations are carving out 5 to 10 percent of their budgets for Web optimization. They plan to use their sites to test, measure, segment and target – all with an eye on proving and improving marketing’s contribution to their businesses.

That’s it in a virtual nutshell.