The analytics would be for the web development team to see which pages/features are used. Usually a product manager uses that data for setting priorities on what gets worked on.
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Allowing Google to run an ad campaign targeting their members wasn't the benefit Blue Cross was talking about, that's a side effect from them not turning off the data sharing option in the Google analytics settings.
The analytics data is used for prioritizing development work. If a tool they have on the website relies on a library that isn't compatible with a new version of React, for instance, do they know how many people use it? Having analytics allows you to decide what's worth spending the development time to maintain.