Analytics evaluate individual components of a course and evaluate student performance. Analytics takes a three-pronged approach to creating substantive data for Canvas users.
Justification focuses on system reports and how the system is being used.
Intervention looks to predict at-risk students and how to meet their needs.
Learning focuses on learning outcomes, the effectiveness of the teaching style, and the division of time between students achieving competence and those falling behind.
From Canvas Basics Guide > What are Analytics?