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The act of measuring and tracking how users engage with a product is analytics. Technically speaking, the act of measuring isn’t analytics, it becomes analytics once it has analysis on the raw data. But people most often refer to both as analytics.
You need product analytics to help understand the performance of the product. To then identify areas to improve, and prioritize where additional resources go to improve the product. Without analytics these decisions would be very challenging and fraught with error. So think of them as a guiding motion of areas to pay attention to.
Analytics should be paired with anecdotal feedback from customers too – to help give context. So as much as possible, try to speak with customers, survey them, review the support tickets. To help fill the gap, on the why are the analytics telling me this. It’s kind of the other half of the equation.
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