This paper discusses the potential and the methodological challenges of analyzing computer conference transcripts using quantitative content analysis. The paper is divided into six sections, which discuss: criteria for content analysis, research designs, types of content, units of analysis, ethical issues, and software to aid analysis. The discussion is supported with a survey of 19 commonly referenced studies published during the last decade. The paper is designed to assist researchers in using content analysis to further the understanding of teaching and learning using computer conferencing.