When creating a Custom Summary Formula in a Report, what are the four valid Summary Types which you can select?

When creating a Custom Summary Formula in a report, one of the key aspects is selecting the appropriate summary type to aggregate the data effectively. The summary types available provide various methods for analyzing and presenting information based on the data fields you are working with.

Average is a valid summary type that calculates the mean of a set of values. This type is particularly useful when you want to understand the overall trend or performance across a data set, such as average transaction value or average age of accounts.

Total is also a valid summary type, which sums up all the values in a specified field. This type is essential for aggregating data, such as total revenue or total number of transactions, providing a clear picture of the cumulative effect of those values.

Min (minimum) is another valid summary type, which finds the smallest value in a specified field. This is useful for identifying the lowest data point, such as the minimum balance in accounts or the lowest score in a performance metric.

The other options, including “Previous,” do not constitute valid summary types in the context of Custom Summary Formulas within reports. The valid summary types are specifically designed to help users derive meaningful insights from the data set based on aggregation methodologies.