Here another infographic I liked (There’s a pattern, I know: I just love those infographics). This one with permission from Jessica Morgan at Take1 Transcription.
I like their take on captioning and transcription (sic!); after all that’s their expertise and I second their take on how important both are.
For captioning because you might be in an environment watching a video where you can’t play sound (or have forgotten your earbuds). And for transcription, because it allows for search engines to capture your content and make your videos more relevant to searches.