Pages don't stay ranked forever. A competitor publishes something newer, the facts change, Google's results shift toward a different kind of page. Traffic leaks away slowly, and because it's slow, nobody notices until it's gone. Content decay notices for you.

How the report decides

Open Content decay. It compares the last 28 days of Search Console data with the 28 days before, page by page. A page is listed when, on at least 100 impressions, either:

it lost at least 25% of its clicks (and at least 10 clicks), or
its average position fell by 2 or more, starting from the top 20.

It also shows rank drops from your tracked keywords (lesson 6.1): keywords now 3 or more places below their best in the previous 30 days, or that fell out of the top 10.

What it says for ieltsbandlift.com

0 decaying pages, out of 205 with search data. Nothing to refresh.

That's the honest result for a site with 8 clicks in 60 days: you can't lose 25% of your clicks if you barely have any, and the 100-impression threshold keeps out the noise from tiny pages. For a new site, an empty decay report is normal. It becomes the most useful report you have once you've got pages that rank.

When a page does show up

Here's the routine we'll follow when one appears:

Click Why? It shows the searches the page lost clicks or positions on. Decay is usually about one or two searches, not the whole page.
Rule out the season. Search Console data lags about 3 days, and some topics dip every year. If the drop matches the same weeks last year, wait. (For IELTS, watch test dates and university intake seasons.)
Click Re-analyse. It opens the Editor on that search, so you can compare your page with what ranks now. Often the pages above you have added a section you don't have, or they're simply newer.
Refresh, don't rewrite. Add the missing section, update facts and dates, improve the opening (lesson 3.3), and keep the same URL. A refreshed page keeps its history and its links. A brand-new one starts from zero.

Tip: Change the "updated" date only when you've genuinely updated the page. Changing a date without changing the content doesn't fool anyone, readers included.

Done when

You know the two triggers: lost clicks, or a position drop from the top 20
You have a routine for a flagged page: Why?, check the season, Re-analyse, refresh in place
You check the report once a month, or sooner after a big Google update