[Plugin: Google Analytics for WordPress] What does this plugin actually do? Dumb question?

So I’ve had this plugin running for a couple weeks.

I dont’ understand what it’s actually done besides put my google analytics code in the header and not in the footer (guess that was my mistake a while ago).

Also, may pageviews are way down and my bounce rate is way up.

Other than that, I can’t see anything that this thing actually does. It’s supposed to create all kinds of special meta data right? But how? How does that actually happen? What does this plugin do that isn’t already done by just slapping the Google Analytics code in the site?

Any answer, no matter how basic appreciated!

http://wordpress.org/extend/plugins/google-analytics-for-wordpress/