[Plugin: Google Analytics for WordPress] What does it actually do?

I think this is probably one of the most stupid questions i have asked,

But what does this plugin actually do?

I have used Analytics on various non-wordpress sites before, yet after installing this plugin i still have to do the same process (analytics account, copy tracking code into footer manually, in this case add is through the wordpress dashboard)

My point is, if i have to insert the tracking url into the code myself, AND i can only view the stats through the analytics website, i’m struggling to see the function of this plugin, if it added an element to my dashboard and imported all the analytics data then GREAT! But it doesn’t even do that.

I think i’ve missed the point totally, can someone clear this up a bit for me?

Thanks