Yes it's able to track clicks on every kind of link on your site, also links for documents.

Using the Universal Events system you will be able to track easily the number of clicks for a specific document.

If you are using dedicated extensions for documents management such as DocMan, it's a matter of copy and paste the documents links.

If you offer documents download directly from the file system of your server, tracking documents downloads is a bit more complex simply because when documents are downloaded the Joomla execution is completely skipped. For this reason we support a special technique that can be used to configure documents download and JRealtime Analytics component, so that when documents are downloaded the component will be notified.

Following detailed explanation contained in the PDF documentation, you can configure your documents download to be tracked also if links point directly to the server file system so bypassing completely the Joomla execution.