Blog - MCB

Data-driven decisions with HubSpot: Utilize analysis for business growth

Written by Annemette Rosenkilde Lucas | Nov 29, 2023 2:19:07 PM

In today's business world, data is the driving force behind smart decisions and effective strategies. And HubSpot, one of the leading platforms in inbound marketing and sales, is not just a tool for marketing automation and CRM; it's also a treasure trove of analytical tools that can transform your business.




In today's competitive business environment, data-driven decisions are crucial for a company's success. They offer objectivity and precision. Relying on accurate data and analysis rather than intuition or assumptions, data-driven decisions enable a more reliable prediction of the consequences of an action. This reduces the risk of errors and allows companies to act with greater confidence and direction. Consequently, it opens up the possibility of detecting patterns and adapting to market dynamics more efficiently, which is crucial for competitiveness and long-term success.

And this is where HubSpot emerges as a pioneer, empowering companies to make informed and accurate decisions through a comprehensive analytics platform (Analytics Tools). From sharply focused dashboards to customer interactions across various channels, marketing and sales analysis to predicting customer needs and optimizing internal processes, HubSpot's Analytics Tools offer precise and current data insights. Dive into statistics about your company's operational efficiency, for example.

HubSpot's analytical tools can be the driving force behind intelligent decisions based on in-depth insights and precise data analysis. Therefore, they serve as the perfect foundation for sound business decisions, providing the ability to proactively respond to market changes, understand customer behavior at a deeper level, and focus resources on areas with the highest potential.

 

HubSpot's Analytics Tools: The potential for business development

HubSpot's Analytics Tools offer a wide array of features, including dashboards, reports, and visualizations, providing in-depth insights into your company's performance and identifying specific areas for optimization.

Currently, these tools encompass:

  • Service Analytics
  • Traffic Analytics
  • Contact Analytics
  • Sales Analytics

For each of these, you'll find advanced options for customization, filtering, and data segmentation, enabling tailored reports that suit your needs. You can save these reports individually or aggregate them on dashboards for comprehensive oversight across different areas.

Service Analytics
Service Analytics is a collection of standard reports available in HubSpot's Service Hub Professional and Enterprise. This feature provides insights into employee productivity, customer satisfaction, average ticket response time, utilization of customer-based knowledge, and much more.

It's an opportunity to enhance internal operations by collecting and analyzing data on internal workflows and decision-making. This process identifies areas for improvement and increased efficiency, detecting inefficient procedures and allowing targeted optimization to improve productivity while reducing unnecessary costs or time wastage.

Traffic Analytics
Traffic Analytics, a component of Marketing Hub Professional, Marketing Hub Enterprise, CMS Hub Professional, and CMS Hub Enterprise, provides an overview of your website's traffic data. It includes insights such as traffic by source, topic cluster, device type, country, and more, relevant to your needs.

Contact Analytics
Contact Analytics, available in Marketing Hub Professional and Marketing Hub Enterprise, categorizes your contacts based on criteria like source, lifecycle stage, country, creation date, or activities. This allows analysis of trends for specific lists, saved filters, or across your entire contact database.

HubSpot facilitates the prediction and proactive response to customer needs through both Traffic Analytics and Contact Analytics. These tools provide data on interactions and engagement, identifying potential sales opportunities before they arise. Patterns are revealed indicating when a customer is most likely to make a purchase or requires further service, enabling a proactive sales approach that not only reduces response time but also enhances the customer experience, potentially fostering increased loyalty.

Scaling marketing strategies becomes feasible as HubSpot enables measurement from lead generation to conversion rates, evaluating the effectiveness of ongoing marketing efforts across various channels, campaigns, and content.

Sales Analytics
Sales Analytics, found in Sales Hub Professional and Enterprise, allows a better understanding of sales performance. Reports are generated based on specific deal properties and deal pipeline settings, providing an overview ranging from sales performance to forecasts.

 

These various tools allow you to consolidate data from different sources and channels, eliminating the need to navigate through multiple systems to gain a comprehensive overview.

 

HubSpot's Reports and Dashboards: One source for the truth about all your data

For growing businesses, quick access to vital data is essential. However, creating reports across various spreadsheets or systems or waiting for an analyst's input for every new insight can be a daunting task.

With HubSpot's capabilities to build targeted Reports and specific Dashboards, you can delve deeper into your data, acquiring effective insights swiftly, easily, and independently. Plus, you can tailor your views on your schedule, obtaining the precise knowledge you require.

The various Analytic Tools enable the swift creation of diverse reports, acting as a shortcut to all the information you seek across different domains. Furthermore, you can construct reports and custom reports, amalgamating the most crucial metrics for you.

Reports
Through HubSpot reports, you can generate tailored summaries of vital data, including sales outcomes, marketing campaigns, customer behavior, and service performances. Additionally, you can integrate data from your existing business apps into HubSpot, consolidating all your data.


The reports can be customized to specific business objectives and present data in an easily understandable and usable manner for teams across the company. This means you can add all the necessary data to a report, as well as compare it with different metrics, achieved through various objects and properties.

The reports can be styled using Chart Style. Therefore, you can choose the design that provides you with the most clear overview. It could be, for instance, through a pie chart, a counter, or a bar graph.

Dashboards

Through your dashboards, you can combine your reports. This way, you can gather the reports that seem related to provide an overall view of important insights. Dashboards are easy to build, making them an ideal tool for management keeping track of sales and finances, the marketing team needing an overview of performance, and HR wanting to understand internal dynamics.

Everyone can, so to speak, monitor their own progress.


It may take a bit of practice to master the design of various reports and dashboards. In addition to using the shortcut via Analytics Tools, you can also utilize some predefined templates created by HubSpot. This operates through a simple drag-and-drop function. These templates are based on best practices and already contain the most necessary and overarching data.

You can add these templates to your own dashboards and personalize them by adjusting various criteria, segments, and properties. Thus, you can always tailor the specific layout to your business needs.

The different reports and dashboards can be easily shared across your company. This can be done via Slack or emails. Furthermore, your emails can be scheduled and personalized with a message, for example, sending a monthly overview to selected team members.


However, it may not be advisable for all your team members in HubSpot to have visibility into all data, as it might contain sensitive or private information. Hence, with advanced reporting permissions, you can set access levels for both reports and dashboards. You can make them public, private, or simply restrict access to specific users and/or teams.

Additionally, HubSpot has developed its Report Assistant. With HubSpot's Report Assistant, you just need to ask a question, such as "Where do my leads come from?" and your report will be generated accordingly. You can then adjust it as needed, adding more parameters later manually, or ask the AI to assist in extracting further information from the report.

Moreover, the Report Assistant can aid in crafting a good description of each report—even if it wasn't originally created through AI.