Whether you are using Woopra, Omniture, or Google Analytics it is not just the data, but what you do with it that counts. Most successful businesses use a tool to track website traffic, numbers and types of visitors, number of pages viewed per visitor, and the various web traffic sources. Google Analytics is a free tool with innumerable plug-ins to help you accomplish this. It's a good tool right out of the box, but it still hasn't gotten quite up to speed with tracking the wealth of data that can be had on social media. As social media began to rise as the premier marketing tool, new plugins and hacks have been created to give you the best datasets available from social media sites and networks.
For example, there is the "Social Media Metrics Plugin" by GreaseMonkey. This extension was created for the purpose of adding a social media layer to the Google Analytics tool. It provides information and statistics on Diggs, delicious bookmarks, stumbles, etc. It isn't perfect by any means but it is a good jumping off point.
A proactive web owner would set up specific web campaigns that target these social media tools using the custom campaign function within Google Analytics. There are methods such as Tiny URLs that allow you to track specific Twitter campaigns or even Diggs. Establishing email reports for specific social media information is another positive, proactive step. You'll want the statistics from top social media websites like Digg, Facebook, Twitter, and even Tumblr. As more and more people are feeding their Twitter and Facebook pages with Tumblr blogs it is another means to consolidate campaign information.
Last but not least, you will want to do the actual analysis of what all the statistics you are receiving actually mean to you and your website. There is an art to web analytics. It takes years and dedication to truly understand all the subtleties and nuances to web trending. However, tools like Google Analytics do provide key and critical information to truly understanding how each and every variable affects your website traffic and how even the tiniest of changes can have an impact on "user engagement". By seeing all of this data in one place, by looking at it graphically you can pick up trends and make tiny changes to your campaigns and website that will have an impact on site traffic, visits, and which products receive buzz.