Couchbase Analytics Developer Preview 4 introduced the capability to manage Analytics nodes directly from the Couchbase Server administration console, with Couchbase Server 5.5 further streamlining the installation process. The installation involves downloading the developer build, setting up a new cluster through the admin console, configuring the necessary services, and assigning memory quotas. After setting a name and password for the cluster, users can install the Analytics service, view running services via the Dashboard, and add data like the "beer-sample" bucket. Users can verify the setup by executing a simple query in the Analytics workbench and are encouraged to explore the new features through the Couchbase Analytics tutorial, with opportunities for engagement and feedback through the Couchbase forums.