The "SEO Report" has been updated and simplified.
This report checks the SEO-friendliness of content on pages, blogs and products so that you can rank higher for those keyword phrases.
Click on the SEO Report button when editing the content and it will show a list of keyword phrases sorted by relevance, then simply click on these to see a tick or cross agaimst the major SEO factors. Amend your content until you have everything ticked ideally.
You can now also see the way that your page meta data appears in Google's search results plus the reading score of your content to make sure it is appropriate to it's audience.