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Home > Blog > Microsoft Excel

How to Conduct SaaS Data Analytics in Excel?

Are you struggling to make sense of your SaaS business’s data?

Are you ready to take your software-as-a-service business to the next level with data?

SaaS Data Analytics

Look no further!

This blog post will introduce you to some of the top SaaS data analytics hacks that can help you revolutionize your business.

With these tips, you’ll be able to easily visualize your data for insights, enabling you to make informed and data-backed decisions.

Table of Content:

  1. What is SaaS Analytics?
  2. Why Do You Need SaaS Analytics?
  3. Which SaaS Metrics Should You Track?
  4. Best Charts to Create a SaaS Analytics Dashboard
  5. How to Analyze SaaS Data in Excel?
  6. Wrap Up

If you’re ready to unlock the full potential of your data, keep reading to uncover game-changing SaaS data analytics solutions.

What is SaaS Analytics?

SaaS analytics is a key component of the software-as-a-service (SaaS) sector. And this is because it allows you to track and analyze your data to make data-driven decisions.

The current SaaS marketplace is super competitive and saturated. In this landscape, if you can effectively use data to understand your market and differentiate your brand, you can have a significant advantage.

As such, we recommend you put together robust data analytics systems in place to analyze key performance indicators (KPIs) for in-depth insights.

Your SaaS data analytics strategy should be easy to implement and execute, even for non-technical users. Besides, it should be flexible and agile enough to allow other key players in your business to customize reports for personalized insights.

To sum up, SaaS analytics is crucial if your goal is to succeed in the dynamic and rapidly evolving SaaS marketplace.

In the ensuing section, we’ll address the following question: Why do you need SaaS analytics?

Why Do You Need SaaS Analytics?

There are numerous benefits to analyzing data in a SaaS (software as a service) firm.

Check out the benefits below.

  • Data-Backed Decision-Making

By analyzing data, you can easily gain valuable insights into your operations and use the resulting insights to make more informed decisions.

For instance, a solid SaaS data analytics strategy can help you:

  • Identify inefficiencies
  • Optimize processes
  • Identify new opportunities for growth
  • Increases Customer Experience

You can leverage SaaS data analytics to understand your customers and your needs. This can help you improve the customer experience in the long term.

For example, SaaS data analytics can help you identify customer pain points and develop solutions to address them.

  • Boosts Efficiency

Data and analytics services can help you identify bottlenecks and inefficiencies in your operations, leading to cost savings and improved efficiency.

For example, it can help you uncover and optimize workflows, streamline processes, and identify opportunities for automation.

  • Increased Agility

By analyzing data in real-time, you can identify and respond to changes in the market.

Or, even within your internal operations. This can help you be more agile and flexible in adapting to changing conditions.

  • Greater Forecasting Capabilities

A well-crafted SaaS data analytics strategy can help you better understand trends and patterns in your business.

This can improve forecasting and planning.

For instance, it can help you to identify potential risks, predict the future, and develop contingency plans.

Recap: SaaS data analytics is a powerful tool that can help you to improve the customer experience, make better decisions, increase efficiency, and be responsive in a rapidly changing market.

So, which SaaS metrics should you track?

Which SaaS Metrics Should You Track?

Several key SaaS metrics can help drive revenue in your Software-as-a-service business.

These metrics or KPIs can provide valuable insights into the performance of your business. Besides, it can help identify areas for improvement and growth.

Some of the SaaS metrics we recommend you track include:

  • Monthly Recurring Revenue (MRR)

This metric represents the expected, monthly recurring revenue generated from subscriptions.

MRR is a key indicator of the health and growth of your SaaS business. And this is because it reflects the long-term value of the customer base.

  • Customer Acquisition Cost (CAC)

This metric depicts the total expenses of acquiring a new customer. And it’s made up of marketing and sales costs.

By tracking customer acquisition costs, you can identify the most cost-effective methods for acquiring new subscription-based customers.

Also, it can help you optimize your sales and marketing efforts.

  • Lifetime Value (LTV)

This metric shows a customer’s total value throughout your relationship.

The Customer Lifetime Value can help you identify your most valuable customers. More so, it can help you optimize your retention efforts to maximize revenue.

  • Churn Rate

This metric shows the percentage of your customers who cancel or do not renew subscriptions.

Churn rate can help you identify factors that may be contributing to customer drop-offs and implement strategies to reduce them.

  • Net Promoter Score (NPS)

This metric represents customer satisfaction and loyalty.

It’s measured by asking your customers how likely they are to recommend the product or service to others.

The NPS chart can help you identify opportunities for improvement and increase the overall customer experience.

To sum up, tracking these metrics can help you unlock the full power of SaaS data analytics in your business.

In addition, these metrics can help you drive revenue by providing valuable insights into the areas that need improvement to drive growth.

By keeping a close eye on these metrics, you can:

  • Optimize your sales and marketing efforts
  • Retain valuable customers
  • Drive revenue over the long term

In the ensuing section, we’ll take you through the best charts to create a SaaS analytics dashboard.

Best Charts to Create a SaaS Analytics Dashboard

Check out some of the charts we recommend you use to unlock the full potential of your SaaS data analytics strategy.

Let’s dive in.

  • Sankey Chart

Customer journey analysis CE222

Sankey Diagram is one of the SaaS data analytics-friendly charts we recommend you adopt in your SaaS data analytics strategy.

Check out how you can use a Sankey in your business to get the most from your data.

  • Visualizing customer journeys

This visualization design can help you to show how customers move through different stages of your business funnel, such as awareness, consideration, and purchase.

A Sankey Diagram can help you identify areas for improvement and optimize your customer acquisition efforts.

  • Analyzing your funnel

A Sankey Diagram can help you to visualize the flow of leads through your SaaS business sales and marketing funnel, from initial contact to conversion.

This can help you uncover the marketing channels that are most effective. Also, you can easily identify opportunities for optimization.

  • Tracking user behavior

This flow-based visualization can help you to track how users interact with a product or service .

Besides, by using the customer journey visualization, you’ll be able to understand user behavior and identify areas for improvement.

  • Analyzing data flow

A Sankey Diagram can help you to identify bottlenecks and inefficiencies in your SaaS business.

Recap: Sankey Diagram can be a valuable tool for visualizing data in your startup by helping you to identify trends, optimize processes, and drive growth.

  • Sentiment Trend Charts

Sales performance analysis CE222

The Sentiment Trend Chart can help you uncover the overall sentiment of your market base. In other words, you can leverage the visualization design to visualize survey responses for insights.

Check out the benefits of the SaaS data analytics-oriented chart below.

  • Tracking customer satisfaction

By tracking sentiment over time, you can learn how satisfied customers are with your offers. Furthermore, you can easily identify areas for improvement.

  • Monitoring brand reputation

Use a Sentiment Trend Chart in your SaaS data analytics strategy to track the overall sentiment towards your brand. You’ll uncover and timely respond to any negative sentiment or reputation issues.

  • Identifying trends and patterns

By tracking sentiment over time, you can identify trends and patterns in your customer sentiment.

  • Likert Scale Chart

Software survey analysis CE222

Use a Likert Scale Chart in your SaaS data analytics strategy to visualize responses from your target audience.

Check out more benefits below:

  • Measure customer satisfaction

Likert Scale questions help you to gauge customer satisfaction with your SaaS products, and identify areas for improvement.

  • Gather feedback on feature releases or new products

Use Likert Scale questions to gather feedback on new feature releases. By doing this, you’ll understand how well new feature releases are being received.

  • Waterfall Chart

Followers tracking analysis CE222

A Waterfall Charts shows how a value changes over time. Each bar in the chart represents a positive or negative value that contributes to the overall change.

Check out the benefits below

  • Visualizing financial performance

The visualization design can help show the changes in your SaaS business’s financial performance over time.

This can help you identify trends and patterns and make informed decisions about your financial strategy.

  • Uncover customer acquisition costs

This visualization design can help you display the costs associated with acquiring new customers, including marketing and sales costs.

This can help you understand the most cost-effective methods for acquiring new customers and optimize your sales and marketing efforts.

  • Tracking product or feature adoption

Use a Waterfall Chart in your SaaS data analytics strategy to track the adoption of a new product or feature over time

This will help you understand how well it is being received and identify any issues or concerns.

  • Pareto Chart

Social media sales analysis CE222

Pareto Charts can help you to display the relative importance of different factors.

In a SaaS business, the visualization design can be used to:

  • Identify key drivers of customer satisfaction

You can use Pareto charts to identify the most important factors contributing to customer satisfaction in your SaaS business.

  • Prioritize product development

Use Pareto Charts to prioritize product development efforts by identifying the features or functionality that are most important to customers.

  • Analyze and optimize business processes

Pareto Charts can identify bottlenecks and inefficiencies in your business’s processes and prioritize efforts to improve them.

In the coming section, we’ll show you how to analyze SaaS data in Excel.

How to Analyze SaaS Data in Excel?

These charts (highlighted above) are unavailable in Microsoft Excel.

You don’t have to do away with Excel in favor of other expensive tools.

Install the ChartExpo add-on to access ready-made charts for your SaaS data analytics strategy, such as Sankey, Pareto, Likert Scale, and Sentiment Trend Charts.

ChartExpo comes with ready-to-go and SaaS analytics-friendly charts, plus many insightful charts you’ll never find in Excel.

The tool costs $10 per month after a week of a free trial. ChartExpo can help you create insightful and easy-to-interpret charts for your data stories in minutes.

Why?

It’s an easy-to-use application that does not require hours of tutorials.

How to Install ChartExpo in Microsoft Excel?

  1. Open your Excel application.
  2. Open the worksheet and click on the “Insert” menu.
  3. You’ll see the “My Apps”.
  4. In the office Add-ins window, click on “Store” and search for ChartExpo on my Apps Store.
  5. Click on the “Add” button to install ChartExpo in your Excel.

ChartExpo charts are available both in Google Sheets and Microsoft Excel. Please use the following CTA’s to install the tool of your choice and create beautiful visualizations in a few clicks in your favorite tool.

Example

In this section, we’ll use the Sankey Chart to visualize the hypothetical data from a SaaS firm.

Let’s dive in.

Starting Point Platforms View product & details Read Reviews Add to Cart Cart Status Ending Point Traffic
External Ad Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 29246
External Ad Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 6133
External Ad Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 12954
External Ad Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 22337
External Ad Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 14685
External Ad Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 10210
External Link Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 29605
External Link Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 27600
External Link Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 5637
External Link Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 23336
External Link Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 28281
External Link Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 17939
Direct Search Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 5490
Direct Search Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 19138
Direct Search Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 27311
Direct Search Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 19560
Direct Search Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 24788
Direct Search Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 10914
Organic Search Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 29043
Organic Search Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 12028
Organic Search Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 24685
Organic Search Mobile App View product & details Read Reviews Add to Cart Clear Cart Exit 8508
Organic Search Mobile App View product & details Read Reviews Add to Cart Checkout Purchase 12448
Organic Search Mobile App View product & details Read Reviews Add to Cart Click on another product Purchase 5034
External Ad Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 23552
External Ad Official Website View product & details Read Reviews Add to Cart Checkout Purchase 19632
External Ad Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 18914
External Ad Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 19234
External Ad Official Website View product & details Read Reviews Add to Cart Checkout Purchase 26871
External Ad Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 29736
External Link Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 14141
External Link Official Website View product & details Read Reviews Add to Cart Checkout Purchase 10680
External Link Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 23756
External Link Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 18491
External Link Official Website View product & details Read Reviews Add to Cart Checkout Purchase 15740
External Link Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 5976
Direct Search Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 19080
Direct Search Official Website View product & details Read Reviews Add to Cart Checkout Purchase 22204
Direct Search Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 22736
Direct Search Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 25578
Direct Search Official Website View product & details Read Reviews Add to Cart Checkout Purchase 11141
Direct Search Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 6881
Organic Search Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 18022
Organic Search Official Website View product & details Read Reviews Add to Cart Checkout Purchase 21183
Organic Search Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 15307
Organic Search Official Website View product & details Read Reviews Add to Cart Clear Cart Exit 11557
Organic Search Official Website View product & details Read Reviews Add to Cart Checkout Purchase 26480
Organic Search Official Website View product & details Read Reviews Add to Cart Click on another product Purchase 29140
  • To get started with ChartExpo, install ChartExpo in Excel.
  • Now Click on My Apps from the Insert.
insert chartexpo in excel
  • Choose ChartExpo from My Apps, then click Insert.
open chartexpo in excel
  • Once ChartExpo is loaded. Click on “Sankey Chart” from the list of charts.
search sankey chart in excel
  • Click “Create Chart From Selection” button after selecting the data from the sheet, as shown.
Create chart from selection CE222
  • The Sankey Chart will look as follows.
Edit chart CE222
  • If you want to have the title of the chart, click on Edit Chart, as shown in the above image.
  • To change the title of the chart, click on the pencil icon that is available very next to Chart Header.
  • It will open the properties dialog. Under the Text section, you can add a heading in Line 1 and enable the Show option. Give the appropriate title of your chart and click on the Apply button.
Chart Header CE222
  • To change the node color, click on the pencil icon available with the node. Expand the Node properties and change color from the Node Color property. Click on the Apply
  • For saving changes click on Save Changes. This will persist the changes.
Save changes CE222
  • The final chart will look as follows.
Sankey diagram sales funnel analysis CE222

Insights

  • As you can notice most of your traffic came through External Ad, which is 234k.
  • 456k traffic was generated by a website which is the most of the traffic if we compare it with Mobile App 427k traffic.
  • All the traffic landed on the product page and read reviews as well. Almost all traffic added products to the cart.
  • 317k cleared their cart and exited.
  • 299k checked out, & 267k clicked on another product. So they can also buy other products as well with current products in the cart.

FAQs

What is SaaS data analytics?

SaaS analytics is a critical component of the software-as-a-service (SaaS) marketplace. it empowers you to track and analyze your data to make data-driven decisions.

In the competitive SaaS marketplace, using data to understand your market and differentiate your brand has a massive advantage.

What are the benefits of SaaS data analytics?

By analyzing data, you can gain valuable insights into your operations and use this information to make more informed decisions.

For example, SaaS data analytics can help identify inefficiencies, optimize processes, and identify new growth opportunities.

It can help you identify customer pain points and develop solutions.

Wrap Up

In conclusion, analyzing data is a powerful tool for SaaS (software as a service) businesses looking to:

  • Improve operations
  • Enhance the customer experience
  • Increase efficiency
  • Drive growth

By leveraging SaaS data analytics to identify trends, patterns, and areas for improvement, you can make more informed decisions, optimize your processes, and stay agile and responsive in a rapidly changing market.

The charts that can help you unlock the full potential of your SaaS data analytics strategy, such as Sankey and Pareto, are unavailable in Excel.

You don’t have to do away with Excel in favor of other expensive tools.

Install the ChartExpo add-on to access ready-made charts for your SaaS data analytics strategy.

Sign up for a 7-day trial to access SaaS analytics-friendly charts for your analysis.

Net Promoter, NPS, NPS Prism and many other terms related to NPS are registered trademarks of Bain & Company Inc., Satmetrix Systems Inc., and Fred Reichheld.

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