Advanced Google Analytics is a tracking plugin that will allow users to take advantage of the latest features provided by Google Analytics.
Because website performance and page loading speed plays an important role in SEO, Advanced Google Analytics will load the GA tracking code in asynchronous mode, without affecting your website performance.
Main features of Advanced Google Analytics:

• easy switch between Classic Analytics and Universal Analytics
• display reamrketing, demographics and interests reports in your Google Analytics account.
• custom dimensions / custom variables tracking
• events tracking
• allows you to anonymize IPs, using Google Analytics anonymization feature
• allows you to disable Admin tracking on frontend

Using custom variables (Classic Google Analytics) or custom dimensions (Universal Google Analytics) Advanced Google Analytics is able to:

• track user by its type: registered or guest
• track visits per author (a quick way to see popular editors)
• track visits per categories (a quick way to determine most popular categories)
• track visits per publication year (identify performance over time)

Advanced Google Analytics supports event tracking; you can use it to generate analytics data about downloads and external links. This is a great feature that will enable you to track your affiliate performance and to generate your own affiliate statistics in your Google Analytics account.
It usually takes some time for the custom dimensions / custom variables reports to be generated. 
Classic Analytics users can access those reports from Audience -> Custom -> Custom Variables, on their Google Analytics Account.
Universal Analytics users can access those reports from Customization (using a custom analytics report), on their Google Analytics Account.
Event Tracking is part of real-time feature, you should be able to see events right away, on your Google Analytics account on Real-Time -> Events dashboard.