Benefits to analytics plugins?

When working in Wordpress, I try to minimize plug-in “bloat” and keep only what’s necessary. So I manually add the tracking script and that’s that. But, I’ve noticed that whenever I inherit a site that another agency has worked on, they’ve been using Monster Insights, Exact Metrics, or some other plugin for analytics.

What is the benefit of this? Is it to make tagging easier instead of using Google Tag Manager?

I use plugins for SEO (Yoast or All-in-one typically) but have never worked with any of these and I’m curious about the reasons.