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Google Analytics is not really an SEO tool per se, but it can be used to indicate the success of failure on an element of your SEO campaigns.
The main purpose of an SEO campaign is not really to drive solely more traffic to your website. Its goal is to drive the right kind of traffic to your site, and that may in some cases mean driving less traffic.
Quality traffic will lead to more conversions on your website, so by refining the quality of the traffic in an SEO campaign, put simplistically, you should aim to have an increase in conversion and decrease in bounce, irrespective if the change in traffic volume caused by the campaign. There are however too many factors to be able to state things like this as a rule. If you need help with determining if your campaigns are headed in the right direction, hire SEO services to have someone perform a full analysis.