A hub operates in parallel, in other words, what's sent from one port/workstation, is made available to all connected ports/workstations. this can lead to SIGNIFICANT network traffic overhead when using multiple hubs in a single network/network segment. Also hubs must split the available network bandwidth amongst ALL connected workstations/devices
The hub functions at the OSI Physical network layer incapable of making routing decisions.
A Switch will build and maintain a record NIC mac addresses and which ports those addresses are connected to. The benefit gained from this is that broadcast traffic on the network is reducedbecause the switch (depending on what style of switching is used) will route the received data packet to the port where it knows the intended recipient is connected to. Also, the switch can run in full duplex mode (sending and receiving simultaneously) thereby making full network bandwidth available at all ports.
The switch operates at the data link layer of the OSI model, making routing decisions based upon the recipients MAC address which is contained in the data paket header. Switches are used to segment a network into what are known as "Broadcast Domains"
Most switches can be installed without significant configuration, however if network monitoring is being implemented via SNMP protocol apps, ()such as HP's Openview) then this will have to be reconfigured according to your SNMP rules and settings.
Good Luck....