Anil Batra asked a few web analysts about skills, that they think are required for a Web Analyst. Here my 2 Cents: A web analyst needs to have advanced statistics knowledge. Period.
A web analyst needs to have a background in SEM, SEO, Usability and overall Web development(programming languages, wire frames, Web 2.0, data mining, databases...).
Additionally advanced Excel knowledge and presentation skills are key to succeed in this profession.
To summarize this: A Web Analyst should be a trained Analyst, Search Engine Marketer ,Search Engine Optimizer, Social Media Optimizer, Online Marketer, Usability Expert, Digital Artist, Web Developer, Communication Expert, Excel Pro in one person.