KNOW the difference between AVERAGE // MEDIAN // QUARTILES - Easy explanation 👌

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:
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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) - https://youtu.be/v2oNWja7M2E
Essential Excel Functions - https://youtu.be/HgNCvd8IbSc
Averages are Mean (Podcast) - https://chandoo.org/wp/cp010-averages-are-mean-part2/
Data Analysis in Power BI - https://youtu.be/uwe8C7K8fXY
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#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.

Видео KNOW the difference between AVERAGE // MEDIAN // QUARTILES - Easy explanation 👌 канала Chandoo