In Simple Terms Why Is Theology Important?

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I've talked with christians who would say they read their Bible but leave all the 'theology stuff' out of it because it's what divides the denominations and causes arguments among believers. But in simple terms why ought every Christian be concerned with theology?

Jesus prayer in John 17 holds they key as to why i believe theology is for everyone:
"And this is eternal life, that they know you the only true God, and Jesus Christ whom you have sent."
(John 17:3 ESV)
Then we turn to the definition of the term 'theology' which is essentially 'the study of God'. Connecting these two things together is easy, we must study or get to know about someone in the process of getting to know them.

While it is possible to know about God (theology) without knowing Him, it is pretty difficult to know Him without knowing about Him. And this is why theological study (all-be-it at differing levels) is of utmost importance in the Christian life. It's not something we go to Bible college for, it's something we open our Bibles for; in prayerful expectation that better theology (knowing about God) will lead to knowing Him & loving Him deeper and deeper.

What's your take on theological study?