Daily Average Calculation

I have a spreadsheet that has a months worth of data. If I have one column that has the dates in it, is there an easy way to calculate the daily average of another columns data?

i.e.

Column A Column B
6/6/2012 1
6/6/2012 5
6/7/2012 5
6/7/2012 11


6/6/2012 Average: 3
6/7/2012 Average: 8

I'm not sure if this would be best done with a Macro???

If anyone has any suggestions that would be appreciated!

You can use averageif - =AVERAGEIF(A:A,date,B:B)

It would be easiest to use a cell reference for the date.

Use a pivot table with the function average.

@mmogharreban
AVERAGEIF() isn't available pre-2007.

I would use a pivot table, but I need this data to either update itself (aka, through an equation) or update at a simple button click (aka, a macro)

I am not very familiar with the MS Query. I read into it a little but it sounds like it will only update if the file is mapped correctly...therefore if I create the file and send it to an employee to use....the spreadsheet won't update itself with the averages while being filled out.

These are all great ideas, and I wish I could just use the AVERAGEIF equation!

Does anyone have any other suggestions?

You could use SUMPRODUCT()/days in the month

@cutter

Could you ellaborate on the SUMPRODUCT idea....I was looking at the equation, but was unable to manipulate it to get the answers I want.

Actually I just re-read your original request. If you are just averaging for a single day then you can do
=SUMIF(A:A,ref,B:B)/COUNTIF(A:A,ref) where ref is a cell address holding the date you want averaged.

I thought you were trying to get a daily average for the month.

That did it.....thank you!
@Cutter

You're welcome.