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AVERAGE is the default option in data analysis. But do you know the problems with it? Here is simple but effective explanation of the problems with AVERAGE and how alternatives like MEDIAN & QUARTILE work. The story begins with Bill Gates walking into a bar... ⏱ In this video: ============= 0:00 - Bill Gates walks into a bar (the Average problem) 0:59 - AVERAGE Explained 2:12 - Calculating AVERAGE in Excel 2:40 - MEDIAN Explained (AVERAGE vs. MEDIAN) 4:27 - QUARTILES Explained 5:53 - Important Rule when working with data (always see the data) 7:30 - How to apply these ideas in work More on this topic: =============== Beginner to PRO Data Analysis with Excel (Video, must watch) - • Beginner to Pro FREE Excel Data Analy... Essential Excel Functions - • Top 10 Excel Functions you should lea... Averages are Mean (Podcast) - https://chandoo.org/wp/cp010-averages... Data Analysis in Power BI - • Beginner to PRO Data Analysis with Po... CONNECT WITH ME 🔗 📺 2nd channel (in Telugu) - / @data_with_chandoo 📷 Instagram (for tips & behind scenes) - / chandoo.xlsx 🐥 Twitter (fresh updates) - / r1c1 🌐 Website (1000+ articles, files) - https://chandoo.org/wp/ 💡 Classes - https://chandoo.org/wp/excel-school-p... #average #median ~ Knock knock... Who is there? 19,043,249,034 Oh, 19,043,249,034 - come in Sorry, I can't. I am outlier.