Analyzing conversion funnels using SQL queries is a straightforward process that can provide valuable insights into user behavior, as demonstrated by Statsbot's approach to funnel analysis. Funnels track sequences of user events, such as signups, integration connections, and scheduled report usage, allowing companies to identify conversion rates and pinpoint stages where users may drop off. By using SQL queries on PostgreSQL databases, Statsbot effectively measures user engagement at each step, revealing areas for improvement in the onboarding process. They found that out of 745 signups, 104 users connected at least one integration, and 61 users scheduled a report, highlighting potential issues in user retention and onboarding. The company also identified 43 users at risk of churn, emphasizing the need for timely intervention. Despite the challenges posed by slowly changing dimensions, where user actions may evolve over time, leveraging SQL for funnel analysis enables businesses to iteratively refine their strategies and track changes in conversion rates.