I am asked to put together some KPIs. I'm breaking down what the general lifespan of our subscribers is by industry.
There are some industries I feel outliers are impacting what the average would be, so I figure I should probably use median. But there are others where I think average might be a better course of action. What would be the best way to tell if I'm better off using average or median? Or if there's something else you think would be better, feel free to share.
In my Excel workbook, I actually did both average and median for each category. The issue is, for some of them, there is a WIDE gap in the difference.
For example, I have one category with a sample size of nearly 6000 where the average is 129, but the median is 162. I should also note that the sample size by industry can vary wildly. Some industries the same size is in the thousands while others might be as low as 100.
Here is a snapshot of the workbook:
Industry|SampleSize|Median Tenure|Average Tenure