Introducing Snowfinch: open source realtime web analytics
blog.kiskolabs.com
blog.kiskolabs.com
What conclusions can be made from that dashboard, except "we have N visitors right now"? And what actions can you take from that data to increase the number of page views?
On the marketing & customer development side, it might help you participate in discussions regarding your site happening elsewhere.
Also, having an API call that returns the trending content of the site can be used on the site itself.