Alexa Ranking

When I started using Alexa ranking, I was at the 11M range. I didn't mind since I didn't know at that time that it's a good indicator of a blog's traffic. Also, this blog was just at it's infant stage. But i have noticed that, for the past weeks, the decrease became very apparent. Now from 11M, it's down to 877K. What a huge improvement! The question though is, does it help? I have not felt the benefit of the Alexa ranking. Have you?