Integrating Google Analytics
If you are using MonsterInsights plugin, this setting has no affect. Leave this setting disabled, and instead set up MonsterInsights affiliate link tracking as outlined here.
What is Google Analytics
That question falls outside of our scope to fully explain, but in short, it's a free service offered by Google to allow site owners to analyze their traffic, and other aspects of their site(s). We recommend the Google Analyticator plugin.
Should I use Google Analytics with Pretty Links?
If you know how to use Google Analytics, and are running the Google Analyticator plugin, then yes. Using Google Analytics on your Pretty Links can allow you to save your website and database from storing all of that information, and generating the reports. Leave that stuff up to Google's servers :).
Can all Pretty Links be tracked with Google Analytics?
However, if you use MonsterInsights, then all Pretty Link types can be tracked with their integration.
How to enable Google Analytics tracking
To enable go to Pretty Links -> Options -> Links. There you will see the following option for Google Analytics. Please note that you must be using one of the compatible Google Analytics Plugins for this work. Compatible Plugins: Google Analyticator.
Enabling on a Per Link Basis
Once you have the option in the settings enabled you will see the following option become available when creating or editing a Pretty Links.
I am seeing this error?
If you're seeing this error message, it is because you are trying to use Google Analytics for Pretty Links, without having Google Analyticator plugin installed and activated on the site.