Microsoft Excel is a powerful software. We can perform numerous operations on our datasets using Excel tools and features. There are many default Excel Functions that we can use to create formulas. Many educational institutions and business companies use Excel files to store valuable data. Sometimes, we need to find the average by month from daily data inputs. There are multiple ways available to carry out the operation. This article will show you 5 easy ways to Calculate a Monthly Average from Daily Data in Excel.
How to Calculate Monthly Average from Daily Data in Excel: 5 Easy Ways
The Average is something that represents an entire data range. Mathematically we can calculate this value by dividing the sum of the total data range by the total number of inputs. It’s called Mean in statistics. The average value helps us to get an idea of the whole population instead of going through every input. So, finding the average value is essential. To illustrate, we’ll use a dataset as an example. For instance, the following dataset contains Date input and Net Sales. There are 6 months of data. We’ll show the methods to Calculate the Monthly Average from this data in Excel.
1. Calculate Monthly Average from Daily Data with SUM Function in Excel
In our first method, we’ll use the SUM function. This function computes the sum of a range. We’ll manually select the monthly range by looking up the date input. Then, divide the function output by the number of inputs in each month. Therefore, follow the steps below to perform the task.
STEPS:
- Before starting the main calculation, we’ll input the name of the months first.
- For this purpose, select the range E4:E9.
- Here, type the first day of each month respectively in each cell.
- See the picture below to understand better.
- Then, select the range again and press the Ctrl and 1 keys together.
- As a result, the Format Cells dialog box will pop out.
- Under the Number tab, choose Category > Custom and Type > mmmm.
- After that, press OK.
- Thus, it’ll return the accurate name of the months.
- Now, select cell F4.
- Next, type the formula:
=SUM(C5:C8)/4- Press Enter.
- Hence, you’ll get the average net sales for January.
- We divide it by 4 as January month has 4 inputs.
- In this approach, you can’t apply AutoFill as the data inputs don’t maintain a pattern.
- You’ve to type the formulas manually.
- Similarly, you’ll see the formula in F9 for June is:
=SUM(C18:C20)/3- In this way, you can easily get the monthly average from daily data.
Read More: How to Calculate Sum & Average with Excel Formula
2. Insert AVERAGE Function for Computing Daily Data Average by Month
However, excel provides the AVERAGE function for calculating the average. We just need to select the respective cell range. So, learn the following steps to carry out the operation.
STEPS:
- Firstly, choose cell F4.
- Here, input the formula:
=AVERAGE(C5:C8)- Subsequently, click Enter.
- It’ll return the average of January.
- Again, you can’t use AutoFill here.
- You’ve to select the average range by checking the date inputs per month.
Read More: How to Calculate Daily Average from Hourly Data in Excel
3. Use AVERAGEIF Function to Determine Monthly Average in Excel
Moreover, the AVERAGEIF function can find the average from a range based on condition. To facilitate the use of this function, we’ll insert the MONTH function to extract the month only from the data range. Hence, follow the process to use AVERAGEIF to determine the monthly average in Excel.
STEPS:
- First of all, click cell E4.
- Next, insert the formula:
=MONTH(B5:B20)- Hit Enter.
- Thus, it’ll spill the monthly numbers.
- Look at the figure below.
- However, we will need the unique month numbers only instead of a single month appearing multiple times.
- The UNIQUE function gives out distinct cell values from a range.
- In this regard, select cell F5.
- Type the formula:
=UNIQUE(E4:E19)- Hence, it’ll spill the distinct month numbers.
- Now, choose cell C22.
- Input the formula:
=AVERAGEIF($E$4:$E$19,F5,$C$5:$C$20)- Here, $E$4:$E$19 is the criteria range, F5 is the desired condition, and $C$5:$C$20 is the sales range from where we’ll find the average.
- Consequently, press Enter.
- Use AutoFill to get other outputs.
- In this way, you’ll quickly obtain the monthly average values from daily data.
Read More: How to Calculate Weekly Average in ExcelÂ
4. Get Daily Data Average by Month Through AVERAGEIFS Function
We had to use multiple functions in different steps in the previous method. Some may find that a hassle. In this method, we’ll show how you can skip various steps and still get the required average value. For this purpose, we’ll apply the AVERAGEIFS function. This function calculates the average based on multiple conditions. Moreover, we’ll use the EOMONTH function in the argument. This function extracts the last day of a month. Therefore, learn the process.
STEPS:
- First, select cell F4.
- Here, type the formula:
=AVERAGEIFS($C$5:$C$20,$B$5:$B$20,">="&E4,$B$5:$B$20,"<="&EOMONTH(E4,0))- Then, press Enter.
- Finally, apply AutoFill.
- As a result, you’ll get the monthly average values.
Read More: How to Calculate Daily Average in Excel
5. Apply Excel Pivot Table to Calculate Monthly Average
Lastly, we’ll make use of the Excel Pivot Table. This feature is used when we have to automatically determine various calculations. It’s easier to get the values in the pivot table. Now, go through the steps.
STEPS:
- In the beginning, select the range B4:C20.
- Then, go to Insert > PivotTable.
- Consequently, a dialog box will appear.
- Press OK.
- Now, drag the Date and the Months fields and drop them under the Rows section.
- Next, drag the Net Sales field and place it under the Values.
- Subsequently, choose Value Field settings from the Sum of Net Sales drop-down.
- The dialog box will emerge.
- Click Average from the Summarize Values By options.
- Hit OK.
- Thus, a new worksheet will appear containing the monthly average net sales.
Read More: How to Calculate Average Quarterly Revenue in Excel
Download Practice Workbook
Download the following workbook to practice by yourself.
Conclusion
Henceforth, you will be able to Calculate the Monthly Average from Daily Data in Excel using the above-described methods. Keep using them and let us know if you have more ways to do the task. Don’t forget to drop comments, suggestions, or queries if you have any in the comment section below.
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