I captured this on one of my websites. It just didn’t look right. Research shows that according to Merriam-Webster online dictionary, “set up” is a verb meaning “to put (a machine) in readiness or adjustment for an operation.” The noun “setup” means “the preparation and adjustment of machines for an assigned task.”
In this example, “Website Analytics is not setup” is incorrect. You are talking about the action (verb) of putting your machine in readiness for an operation.
The second example “Setup Website Analytics” is also incorrect because it is also a verb showing the action of putting your machine in readiness for an operation–in this case Website Analytics. I think the only case where “setup” would be correct with the subject Website Analytics is if you were to say “Website Analytics Setup” (the preparation and adjustment of machines for an assigned task–in this case, Website Analytics) with instructions for the actual set up process.
It is definitely confusing, but if you are actually setting something up–like a computer program or app–it is “set up.”