CP009: Averages are Mean – Know these things before you make any more AVERAGE()s
In the 9th session of Chandoo.org podcast, lets raise above AVERAGEs.
What is in this session?
At this exact time, one in every 3 analysts in the world are calculating an AVERAGE(). – Someone
AVERAGEs are a very popular and universal way to summarize data. But do you know they are mean? Mean as in, AVERAGEs do not reveal much about your data or business. In episode 9 of Chandoo.org podcast, we tackle this problem and present solutions.
In this podcast, you will learn,
- What is AVERAGE?
- Pitfalls of averages
- 5 statistic concepts you must understand
- Standard Deviation
- Distribution of data
- What next?
NOTE: This is a 2 part podcast. 2nd part will be published next week.
Go ahead and listen to the show
Links & Resources mentioned in this session:
Transcript of this session:
Do you use AVERAGEs for your analysis? What do you think about them?
AVERAGE is such an easy and convenient thing that we use it often. For many of my reports I start with AVERAGE and then improve the metrics to show insights.
What about you? Do you calculate AVERAGE() for your reports? What other types of statistics you use to summarize data? Where do you find AVERAGE to be useful (or useless)? Please share your thoughts using comments.
Subscribe to Chandoo.org Podcast
Do you know that you can subscribe and receive latest episodes of our podcast right to your ears? Use one of the below links to get started.
- For iPhone or iPod or iPad: Click here to subscribe.
- Andriod Phones & Tabs: Click here to subscribe on Stitcher. (You can download Stitcher free app from that link)
- Windows Phone: For Windows phone, search your podcasts app for our show.
- Or… As always, you can get latest episodes, show notes & resources from our Podcast page.
My name is Chandoo. Thanks for dropping by. My mission is to make you awesome in Excel & your work. I live in Wellington, New Zealand. When I am not F9ing my formulas, I cycle, cook or play lego with my kids. Know more about me.
Thank you and see you around.
Leave a Reply
|« Implementing Modular Spreadsheet Development – a walkthrough||I struggle doing __________ with Excel. Fill in the blanks…, »|