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Attribution in Google Analytics refers to the process of assigning credit for conversions to different channels or campaigns. This concept is vital as it helps marketers understand how various touchpoints contribute to a user's decision to convert, enabling them to assess the effectiveness of each channel in their marketing strategy.

By leveraging attribution models available in Google Analytics, businesses can identify which campaigns, ad groups, or keywords are driving conversions. This insight allows them to allocate resources more effectively and optimize their marketing efforts based on which channels produce the best return on investment.

The other options do not correctly capture the definition of attribution. For instance, forecasting future sales trends involves predictive analytics rather than attributing current conversion value. Analyzing demographic data focuses on understanding user characteristics and is unrelated to the conversion process. Lastly, tracking user engagement metrics involves measuring interactions with content but does not specifically address how conversions are credited to marketing efforts. Thus, the definition of attribution is precisely about understanding how credit is assigned to various marketing channels for conversions.