As with any aspect of your business, knowing what is and is not working on your website is the only way by which to improve. In the same way your business can analyse footfall and hourly sales on the shop floor, it is possible to track visitor behaviour on your website to gain new insights.
Traffic analysis will show you which webpages are particularly popular as well as those which are rarely visited. Immediately you will be able to tell from this information what is working well. This insight can then be applied to improving less effective webpages.
Traffic analysis also reveals some information about how people have found your website. This could be which search engine they have used, or whether another site is linking back to yours. This information is particularly valuable because it can be used to inform your internet marketing efforts.
You may also find that you are attracting visitors from a particular corner of the world, potentially opening up a whole new marketplace for you to exploit. All this and more can be discovered by analysing the traffic to your website.
Like blogging, traffic analysis can be time-consuming and, when done incorrectly, a waste of time. For best results you should arrange training to understand the tools available and how to apply them to your website. Alternatively you could investigate the possibility of seeking consultancy from an expert third party.