I would tell that Bounce Rate is the Sexiest Part in Web Analytics, which I found till now while measuring the Bounce Rate for various reasons
Bounce Rate is a metric which available in most of the Analytical Tools. In Tools like Omniture its not available but you can easily compute it. I would say that its really hard to understand that what the Bounce Rate measures. It is an action taken in multiple levels while identifying the low hanging pages/other stuff.
Bounce Rate also helps in customer behavior I would say that its is the Holy Goals in the Analytical Industry
The Bounce Rate metric shows a fantastic report because the web is dominated by Search Engines, Social Networks not to forget that your Home Page of your website is also considered a part of Bounce Rate
The Bounce rate metric also produces a lovely report because the world is dominated by search engines, and those search engines, not you, determine the home page of your website.
I always find the Bounce Rates are the most useful web analytics metrics combined along with the page views that helps to identify the best & worst performing keywords along with the referrers which makes a entry pages for the website.
TIP: For example if the average bounce rate is X percent the bounce rate from the Search Engines should be lesser than the X %.
This information will tell you the audiences on your website is serving the best or the which is disappointed by the services you provide this will help you to provide the ideas for the new landing pages or Keyword Research for your choices.
Passionate Digital Marketing consultant connecting startups and SME to their target audiences.
Microsoft Advertising Certified Professional