There is no doubt that web traffic statistics will be very useful for analyzing as to how your website is performing, but what is also important is to know how to analyze the web traffic statistics that your web monitoring software generates - it is important to make sense of the reams of data that is generated.
To begin with, you can study the number of visitors which your website is getting on a daily, weekly and monthly basis. This would be a pretty accurate statistic of how your website is performing. It would be logical to assume that the more visitors you have had, the more successful your website is and the more business is being generated, but this could be a fallacy. What is also important is to check for how long visitors have stayed at your website statistic since that will reflect the seriousness of their intentions.