This is a nice move from Google Analytics team, they raised the number of Profiles upto 10-50, which you can have in a single account. On August they did a raise in the number of profiles by 5-10, and now it’s something much more they had given.
They promise that, they will be giving such gifts for the existing users in certain intervals in Google Analytics Official Blog.
What is a Google Analytics Profile?
As it defined in Google Analytics Support team, a website profile is essentially a set of rules that define the reports that you see. Generally, a website profile corresponds with a domain – you’ll have one profile per domain, so that you can view reports for each domain separately.
You can also use profiles to track subdomains separately, by setting up filters on the profile to return data only from that subdomain.
A Word from the Author:
I would love to create Duplicate Profiles for each of the websites and use different Filters to see how it differed. Say, in one I will exclude my IPs, probably one to analyze the Traffic only outside India and one with no filters. Anyway you can get ideas about How to fully make use of different profiles even though you have 5 websites. Read much more about How to Manage different Profiles in Google Analytics and about Duplicate Profiles in their Support pages.