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jStats allows you to aggregate statistics about visitors on your site, without breaking the cache-ability of your pages.
At its core, jStats could be seen as a bridge between the core Statistics module, that stores its data in Drupal but is incompatible with aggressive and external caching, and Google Analytics, that only adds a small JS fragment to the page and thus makes them perfectly cachable, but can't easily be accessed by Drupal modules (in order for example to sort a listing of node by the number of node views): it's a lightweight way to keep your statistic data in your database, that still works when the page you want to have statistics on is stored in cache.