There are many Bible translations because most people do not read the original languages of the Bible, and languages, especially English, are constantly changing. Also, new archaeological discoveries improve understanding, leading to better accuracy of biblical passages.
God's Word does not change, but word usage and languages do, so, updated and revised translations of the Bible are needed. The Bible was first translated into English in the late 1300s by John Wycliffe. The King James Version was finished in 1611, and then revised several times between 1611 and 1769. The explosion of English Bible translations did not occur until the middle of the 1900s. Advances in archaeology and historical research have also clarified ancient customs and practices, allowing for more accurate renderings of biblical passages.
While the original writings in Hebrew and Greek are inerrant, infallible and God-breathed (2 Timothy 3:16), we can trust that the Holy Spirit also guides faithful Bible translators. The Bible, even when it is translated, is still God's Word. Although serious study should include the comparison of several different Bible translations, ultimately it is the Holy Spirit who reveals to our spirits the meaning of the Word of God (1 Corinthians 2:12-14).
Today there are three general ways to translate the Bible. One is "formal equivalence," which attempts to translate the text word for word, as literally as possible, such as the NASB, NKJV, LSB, and ESV. Next is "dynamic equivalence," which attempts to translate thoughts and ideas instead of words, such as the NIV and NLT. Last is "optimal equivalence," which tries to balance the two methods for better reader understanding, such as the CSB. Examining a Hebrew/Greek interlinear to see the nuances of word usage (e.g., www.blueletterbible.org) can be enlightening.
Besides translation styles, the Bible has been translated into more than seven hundred different languages (according to Wycliffe Bible Translators), God’s word continues to go out, ensuring that the world comes to know the good news of Jesus Christ (Matthew 28:16-20).