Mode is the most frequently occurring value in a dataset. Along with mean and median, mode is a statistical measure of central tendency in a dataset. Unlike the other measures of central tendency that are unique to a particular dataset, there may be several modes in a dataset.
In certain cases, mode can be an extremely helpful measure of central tendency. One of its biggest advantages is that it can be applied to any type of data, whereas both the mean and median cannot be calculated for nominal data. It is also not affected by extreme values in datasets with quantitative data. Thus, it can provide insights into almost any dataset despite the data distribution.
On the other hand, the statistical measure also comes with its own limitations. For instance, it cannot be further treated mathematically. Therefore, the measure cannot be used for more detailed analysis. In addition, since it is not based on all values in the dataset, it is difficult to draw conclusions regarding the dataset relying on mode only.