When an event (page view, file download, etc.) occurs, it's saved in the file in folder ~/app_data/CMSAnalytics. The format of the file is:
<event type code name>_<date>_<time>.log
Every minute, a new file is created. A scheduled task reads the closed files every minute (or other scheduled interval) and imports the data into the database. This data is then displayed using the reports defined in the Reporting module.
The name of the scheduled task is Analytics log processing and you can control its status and settings in Site Manager -> Administration -> Scheduled tasks.
Page url: http://devnet.kentico.com/docs/devguide/index.html?web_analytics_how_it_works.htm