We present a method for analyzing current‐voltage relationships to obtain information on the dominant conduction mechanisms. The method is based on the analysis of the derivative of the logarithmic conductivity with respect to inverse applied electrical field. To illustrate the method we apply it to the study of Co‐Al2O3and Au‐Al2O3composite films. The former material displays space‐charge‐limited conduction, which is due to a high density of trap states in the oxide matrix. On the other hand, Au‐Al2O3shows evidence of percolation and tunneling between metal particles.