What? No!!! Any self-respecting statistician would know that the mean of a quantity where addition is not well-defined is meaningless.
What? No!!! Any self-respecting statistician would know that the mean of a quantity where addition is not well-defined is meaningless.
Use the median!!!
The reason is obvious. The entire theory is that for your business to be successful you need to have exceptionally satisfied customers who will PROMOTE your business.
All you have to do is read the name of the thing to understand exactly how and why it works, which apparently everyone besides this author can do.
Not that the mean is the only (or even the most useful) statistic.
For example, 6 on the NPS scale would be less likely to recommend compared to 7 and 7 would be less likely than 8. However, the gap between 6 and 7 and the gap between 7 and 8 may not be equal. If you were to get the mean of 6, 7, and 8, you would get a value of 6, but there is no guarantee that the average of the participants' likelihood to recommend was actually equal to a 6.
Measuring the mean would work if the interval between the numbers were equal. See here for details: https://en.wikipedia.org/wiki/Level_of_measurement
There goes the Dow Jones average.
The Dow Jones was invented in the 1890s to be easy to calculate. It is widely panned and is not used by anyone in industry for anything serious.