Once you have the hang of reading the basic dashboard, now’s the time to set up a goal conversion or two.
What is a goal conversion?
When someone views your site, a “conversion” is when they have successfully completed a specific task. For example, someone may finish the checkout process on your shopping cart; or they may fill out and submit the form on your contact us page. These are called “Conversions,” or “Goals.”
Here’s a sample from a website- the goal here is that someone filled out the Contact Us form:

It’s easy to see from this simple chart- the site had 3 Goal Conversions in 5 days. The conversion rate is calculated from the total number of visits (in this example, 103 total visits). It’s really up to you what a good number is for your business.
For more information about Google Analytics, including how to set up goal conversions, visit this site: http://www.google.com/support/googleanalytics/?hl=en_US
