Total amount of visits to the website is good information, but we need to dig into the hits deeper to understand more. This information is stored in log files on the machine. However, it isn't in a presentable manner. Thus, a GUI for web statistics.
Breaking down the total hits in such categories as; Overall, Monthly, Daily, Hourly is good to get a bigger picture about who's coming too your website.
Where are your visitors coming from? Are they mostly from the US? Primarly the US and the UK? This is also
information that can be displayed.
You can also find which search queries they used to find your site, what page it presented them with. Who's referring too your site.
I think one of the biggest values of web statistics is too see if money spent on advertising is working.
Are people linking to pages that don't exist? We can fix this so people visit our site.