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I see statistics as only a guide, but not anything I'd take to the bank. I've tried more than once to understand all of my statistics and it is a very complex subject. One of the difficulties is the issue of dynamically assigned IP addresses. If every time a person logs on they are assigned a different IP address, they could look like a new, unique visitor, when they actually are not new.
I've had conversations with WebTrends because they are the ones providing my statistics and they explained to me the difficulty in tabulating how someone got to my site. The explanation sounded reasonable, but I can't remember it well enough to repeat it.
Bottom line is, consider your stats a guide only and don't spend too much time trying to understand every little detail or it will drive you nuts.
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