Google Analytics Lite is a light weight and feature slim way to include the universal google analytics embed code in the site. It puts the code in the head of every page request. If you would like a more fully featured google analytics solution then please try Google Analytics.Google Analytics is a full featured module with many options and configuration.
Google Analytics Lite currently has one setting and one setting only, the Google Analytics Tracking ID. All that is necessary to get this working is enable the module and set the tracking code.
If you require a more feature rich module, I recommend the Google Analytics module. It is a highly stable project with and the first place to go for Google Analytics integration in Drupal 7.