In their continuing quest to catch up with Google, this week Bing Ads announced what they are calling "Universal Event Tracking" or UET.

Think of UET as a simplified version of Google Analytics that lives within the Bing Ads interface which allows advertisers to track metrics like bounce rate, pages per visit, and average duration alongside the basic metrics that Bing has always provided.

More notably, installing UET on your site will soon allow you set up Bing remarketing campaigns, but that feature has not officially launched yet.

Here are the list of features accoring to the Bing Ads Blog:

It allows you, the advertiser, to learn:

Which ad campaigns are most effective based on conversion goals.
Which keywords better lead to conversions and lower bounce rates.
What is the return on investment of your advertising dollars.
Which customer segments convert better and are more valuable.
What type of engagement (e.g. bounce rate, pages per visit, duration per visit) your keywords have on your site.

You can read the official announcement at http://advertise.bingads.microsoft.com/en-us/blogpost/129483/bing-ads-blog/universal-event-tracking-a-new-and-improved-way-to-track-your-sites-activities-in-bing-ads