I've been asked by several in our church to address some questions on my blog that people have about the faith, the Bible, or the church in general. One of those that has surfaced recently is why we have so many different translations of the Bible. With the release of the NIV update this year, many are asking why we need another "version" of the Holy Scriptures. So, why so many translations of the Bible? That's a great question. Christian Standard had a series of great articles on this from this summer. I want to encourage you to read these articles understand the different translations of the Bible. They will answer probably better than I could write a response. Here are the links:
http://christianstandard.com/2011/08/an-embarrassment-of-riches-part-1-why-different-translations/
http://christianstandard.com/2011/08/an-embarrassment-of-riches-part-2-four-popular-translations/
http://christianstandard.com/2011/08/an-embarrassment-of-riches-part-3-the-most-popular-translations/
Hope this helps you on the journey to understanding different translations.
For translator's notes on the NIV 2011 update, see this link:
http://www.biblegateway.com/niv/Translators-Notes.pdf
Hope this helps! Merry Christmas!