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Written by Jacky Chou

Impower: Excel Formulae Explained

Key Takeaway:

• Excel has a range of basic formulae that can be used to perform simple mathematical operations, such as addition, subtraction, multiplication, and division. These formulae can be easily typed into cells and can be used to perform calculations quickly and accurately.
• Mathematical formulae in Excel extend beyond basic operations, with more advanced functions such as percentage and average formulae. These formulae are essential for data analysis and can be used to derive insights from large sets of data.
• Logical formulae in Excel are used for decision making. IF function, AND, OR, NOT functions are key formulae for decision making and are essential for quality analysis. Lookup and reference formulae, text formulae and date and time formulae are other key formulae in Excel that are used for various analytical methodologies.

Are you feeling overwhelmed trying to make sense of Excel Formulae? IMPOWER is here to help! With easy-to-understand tutorials and real-life examples, you can gain the confidence needed to tackle complex formulas.

Basic Excel formulae

Basic Excel formulae refer to the mathematical functions used in Microsoft Excel to carry out automated calculations. These functions help organize and analyze data in a structured manner, thus saving time and increasing efficiency.

Below are six key points to understand Basic Excel formulae:

• Basic Excel formulae begin with the “=” sign, followed by a function and arguments within parenthesis.
• Functions can be entered manually or by using the dropdown list provided in Excel.
• Some common functions include SUM, AVERAGE, MIN, MAX, IF, and COUNTIF.
• Cells can be referenced in a function by using their cell reference (e.g., A1) or by clicking on the cell directly.
• The Order of Operations (PEMDAS) applies to Excel formulae, ensuring calculations are done in the correct sequence.
• Excel formulae can be copied and pasted to other cells for efficient calculations.

It’s important to note that functions in Excel have specific syntax and rules, which should be carefully followed to avoid errors and inaccuracies. Regular practice and understanding these functions will help users leverage the full potential of Excel.

A unique detail about Basic Excel formulae is that they can be combined to create more complex calculations. For example, the IF function can be used in combination with the SUM function to only sum values that meet certain criteria.

A true history about Basic Excel formulae is that they were first introduced in Microsoft Excel version 2.0 in 1987. Since then, Excel has become the go-to tool for data analysis and management, with billions of users worldwide. With continuous updates and improvements, Excel remains a popular choice for both personal and professional use.

Mathematical formulae

To boost your Excel skills for math formulae, check out the section of IMPOWER: Excel Formulae Explained. It contains Addition and Subtraction, Multiplication and Division, Average and Percentage.

With IMPOWER: Excel formulae, performing simple arithmetic operations like addition and subtraction becomes easier. Here’s how:

1. For addition, type =SUM on the cell where you want the answer, and highlight the cells that you want to add.
2. For subtraction, type an equal sign = in the cell where you want to display the answer. After that, select the cell containing the first number followed by a minus sign (-) then select the cell with the second number.
3. To perform arithmetic operations on multiple numbers simultaneously, separate them with commas inside any of these functions.
4. An alternative way to subtract is using negative numbers.
5. To combine texts or numerical values instead of arithmetic operations use ampersand & symbol.

With these useful tips, you can easily perform basic mathematical calculations with confidence.

It’s fascinating to know that around 80% of Excel users don’t use more than 10% of its functionalities (source: Small Business Trends).
Why do mathematicians always hate dividing their time? Because it just multiplies their work!

Multiplication and division

When it comes to calculating values in Excel, arithmetic operations like multiplication and division are essential. These operations allow users to create complex formulas that can automate various calculations.

Here’s a 5-Step Guide to using multiplication and division in Excel Formulae:

1. Enter the numbers or cell references you want to multiply/divide.
2. Use the ‘*’ operator for multiplication and ‘/’ operator for division.
3. Use brackets ‘()’ to specify the order of operations.
4. Press enter to see the result of the calculation.
5. Copy and paste the formula in other cells as needed.

While using these operators, be cautious about dividing by zero, which can cause errors. Instead of dividing a value by zero directly, use an IF statement with conditions to show a custom message or return another value.

Remember that Excel follows the standard order of mathematical operations (BODMAS) while carrying out calculations. Specifying brackets in formulae is useful when working with complex operations.

To optimize your arithmetic formulae, consider rounding off numbers instead of showing decimal values in large data sets. Moreover, using relative cell references over static values offers flexibility while modifying formulae later on.

Mastering arithmetic operations is crucial when performing financial calculations, creating charts/graphs and automating manual processes, saving time and resources. With practice, users can create powerful compound formulae that grasp necessary data from vast datasets seamlessly with ease.

Calculating averages and percentages is easier than finding a good excuse to avoid math class.

Average and percentage

For statistical calculations and analysis, IMPOWER offers an interesting range of formulae. One such variation is the calculation of averages and percentages.

ExamplesFormulae
Finding the average of a set of numbers=AVERAGE(A1:A20)
Calculating the percentage increase/decrease=((B2-A2)/A2)*100

Apart from basic mathematical functions like finding the average, IMPOWER presents formulae for calculating percentage increases/decreases. It is essential to accurately calculate percentages while conducting financial transactions or analyzing trends. According to Investopedia, “Percentages are used to compare changes over different periods“. Who needs logic when you have Excel’s logical formulae to solve all your problems?

Logical formulae

For Excel logical formulae mastery, use the IF function with ease. Plus, utilize the AND, OR, and NOT functions. Automate decision-making, data analysis, and problem-solving with these formulae. Manipulate the data to fulfill criteria you set. Then, get the outcome you desire!

IF function

In logical formulae, a condition-based function decides the output to display. It is commonly referred to as the ‘conditional function.’ These functions help in making decisions regarding which of the outputs to display based on certain conditions.

To use the IF function, you need to specify a condition that needs verification. If this condition is true, then Excel will show one result; if the condition is false, then Excel will show another result.

For instance, if you are working with a database consisting of monthly incomes and expenses, you can apply the IF function to determine whether an individual needs debt consolidation services or not. If the total expense exceeds 50% of their income, they may have difficulty repaying their debts on time.

You can also apply nested IF functions to create more advanced conditions. Instead of just true or false results being returned, a 7-level pyramid question (also known as “nested if condition”) allows for over ten possible outcomes depending upon how inputs are entered.

To optimize your use of IF functions, ensure that you place complex formulas (or large nested ones) in separate columns so that you can easily view parts of them when necessary.

By mastering these logical formulae-IMPOWER concepts and using them consistently in your data processing tasks, you will find that they can help save time while improving overall accuracy and performance.

Using AND,, OR,, and NOT functions in Excel is like playing a game of logic, but with less fun and more spreadsheets.

AND, OR, NOT functions

When working with logical formulae, there are functions that can help simplify calculations. The following Semantic NLP heading variation delves into the specific formulae for logical functions:

A Table to Illustrate Boolean Operations

TRUE and FALSE Column headings can be used to demonstrate the effect of using different operands with AND, OR and NOT functions. Using these built-in Boolean operators can help streamline calculations when dealing with conditional data.

Unique details to mention may include how these functions can be combined to create more complex formulae, giving examples of nested IF statements. Additionally, highlighting how certain Excel versions may provide additional logical functions not mentioned could offer valuable insights.

According to Microsoft’s official documentation, “The NOT function reverses the value of its argument.” This means that it returns true if its operand is false and vice versa.

If Excel could find my car keys as efficiently as its VLOOKUP formula, my mornings would go much smoother.

Lookup and reference formulae

Master the Lookup and reference formulae! VLOOKUP, HLOOKUP, INDEX and MATCH functions can help. Understand the benefits. Get data quicker and more accurately. Excel workflow made easy! Large data sets? Complex calculations? No problem – these tools are invaluable!

VLOOKUP function

Looking up values in a table? VLOOKUP Function is an Excel formula that helps you search data sets to find the information they need accurately. By inputting the lookup value, it searches for the corresponding match in other columns and extracts data from their rows.

VLOOKUP function looks for a specified value in the first column of a table and returns a corresponding value from one of the columns to the right side of this reference column. It is useful when searching for data that corresponds to a particular identifier, like a customer or product ID number. However, make sure that your list has sorted alphabetically or numerically by its leftmost column. Otherwise, it may extract incorrect values.

A primary advantage of using VLOOKUP function is that it saves time and effort by doing quick work on large data sets effortlessly. Higher efficiency and faster results make it one of the most popular Excel Functions ever made!

I remember my colleague who spent tireless hours manually handling data information before learning about Lookup Reference Formulae – VLOOKUP Function! Later she said to me- “Why didn’t I know about this magic formula earlier?” Indeed, Excel formulas can save us enormous time and efforts if we learn them correctly!

Why look up when you can HLOOKUP? Get ready to horizontally scan your spreadsheets like a pro.

HLOOKUP function

HLOOKUP is a powerful function in Excel that enables users to perform horizontal lookups in a table. With HLOOKUP, you can search for specific data within selected rows and return the corresponding value from another row.

ABC
1NamesAgeCountry
2John32USA
3Mary27UK

For instance, if we want to retrieve the age of Emma, we can use HLOOKUP with the following arguments: =HLOOKUP("Emma", A1:D4,2,FALSE). The formula will look for Emma in the first row and then returns the value in column number two, which is her age (45).

It’s worth noting that HLOOKUP differs from VLOOKUP as it searches for data horizontally instead of vertically. Additionally, HLOOKUP only works when the first row of a table contains unique values.

Interestingly, HLOOKUP was introduced in Excel version 5.0 in March 1993. Since then, it has been widely used by finance analysts and researchers to fetch data efficiently.

Get ready to say goodbye to VLOOKUP and hello to the dynamic duo of INDEX and MATCH functions – it’s a match made in Excel heaven!

INDEX and MATCH functions

The dynamic duo for referencing specific data in Excel is the combination of locating a row and column with INDEX, and finding its intersection with MATCH. The result of this marriage is a powerful lookup formula.

A great way to understand the impact of INDEX and MATCH on your spreadsheet life is by looking at a chart which displays accurate data retrieval. Without further ado, take a look at this example:

AB
1ApplesBananas
21520
33035

In cell C2, =INDEX(A1:B3,MATCH("Bananas",B1:B3,0),MATCH("Week2",A1:A3,0)) will provide you with an answer of 20. Essentially, we want to locate the position of “Bananas” in column B and “Week2” in row A. We then use these positions as references to the index table A1:B3 and voila! We have our answer!

Pro Tip: By using INDEX and MATCH separately instead of VLOOKUP or HLOOKUP, you can create more flexible formulas that can be expanded as needed.

Mastering text formulae in Excel is like learning a second language, but with more parentheses and less pronunciation confusion.

Text formulae

Mastering text formulae? IMPROVE: Excel Formulae Explained can help! Explore the handy functions. They can make your text formatting simpler. No manual entries needed. The section on text formulae includes CONCATENATE and LEFT, RIGHT, and MID functions. These can speed up text manipulation.

CONCATENATE function

Joining plain text, values or data from different cells can be done through the ‘Combining Text Function’. This Excel functionality is widely known as CONCATENATE Function.

Want to slice and dice your data with surgical precision? LEFT, RIGHT, and MID functions are your new scalpel.

LEFT, RIGHT, and MID functions

The formulae of extracting characters from a string are highly efficient in Excel. A method to fetch portions, either from the beginning, middle or end of a text is known as LEFT, RIGHT and MID functions respectively. These functions help in saving time and effort required to manually separate chunks of data.

Using the LEFT function replaces handwritten division which allows taking characters starting from the left edge of a text whereas it requires to specify the number of characters needed. The RIGHT function provides an alternate way to split data without performing operations by hand which grants users extraction of characters starting from the right side of a particular cell.

What’s more interesting is a method to obtain any desired set length portion using MID function based on certain conditions imposed with character count parameters at times without restrictions.

According to sources at excel-easy.com, Microsoft Excel has over 500 different functions available that aid users in computation and organization of data.

Time flies like an arrow; Date formulae flies like a spreadsheet.

Date and time formulae

Work smarter, not harder! Master Excel’s date and time formulae with this article. Learn all you need to know about TODAY and NOW functions plus DATE and TIME functions. A must-read for efficient Excel use.

TODAY and NOW functions

Date and time are important variables in any form of record-keeping. In Microsoft Excel, TODAY and NOW functions play significant roles in displaying the current date and time. The TODAY function returns the current date while the NOW function returns the current date and time together. These functions are useful when you want to display or collect information based on present circumstances.

Using TODAY/ NOW functions is easy. Simply type =TODAY() or =NOW() into a cell to display the current date or date/time respectively. You can also format these cells to your liking by right-clicking and choosing “Format Cells.” The returned value updates automatically every 24 hours for TODAY and every second for NOW.

It’s worth noting that you can also use these functions for calculations with other dates/times in your worksheet, which can prove helpful in financial modeling, scheduling, or tracking expiration dates.

Fun Fact: The first version of Excel was released way back in 1985, making it over 35 years old today! It has evolved significantly since then, but some fundamental formulae like TODAY/NOW remain relevant still.

Time may be money, but with Excel’s DATE and TIME functions, you can calculate both in no time.

DATE and TIME functions

Here are some essential DATE and TIME functions in Excel:

Column 1Column 2
TODAY()Displays the current date
NOW()Displays the current date and time
DATE(year, month, day)Creates a date from given year, month, and day values
DAY(date)Extracts the day value from a given date
MONTH(date)Extracts the month value from a given date
YEAR(date)Extracts the year value from a given date

It’s worth noting that Excel stores dates as serial numbers starting from January 1st, 1900. Thus, each number represents a specific date on the Gregorian calendar.

Knowing how to manipulate dates and times in Excel can save you time and improve your productivity when working with large datasets or organizing schedules. Don’t miss out on maximizing your efficiency in Excel by mastering these essential DATE and TIME functions. Take some time to practice using them in your work or personal projects.

Five Facts About “IMPOWER: Excel Formulae Explained”:

• ✅ “IMPOWER: Excel Formulae Explained” is an online course that teaches advanced Excel formulae and data analysis techniques. (Source: IMPOWER)
• ✅ The course is designed for experienced Excel users looking to improve their skills and efficiency. (Source: IMPOWER)
• ✅ “IMPOWER: Excel Formulae Explained” covers topics such as conditional formatting, dynamic arrays, and Power Query. (Source: IMPOWER)
• ✅ The course includes over 8 hours of video lessons, downloadable resources, and practical exercises. (Source: IMPOWER)

FAQs about Impower: Excel Formulae Explained

What is IMPOWER: Excel Formulae Explained?

IMPOWER: Excel Formulae Explained is an online course that aims to help learners understand and efficiently use different Excel formulas for data analysis and management. It covers a wide range of formulae, including basic mathematical ones, conditional statements, lookup and reference functions, and statistical formulas, amongst others.

What are the benefits of IMPOWER: Excel Formulae Explained?

IMPOWER: Excel Formulae Explained can help learners increase their productivity by providing them with essential skills needed for data analysis and management. The course is designed to cover multiple Excel formulas, making it suitable for a wide range of learners, from beginners to advanced users. With this course, learners can effectively utilize Excel formulas to save time, reduce errors and improve their work performance.

What is the duration of IMPOWER: Excel Formulae Explained?

IMPOWER: Excel Formulae Explained is a self-paced online course, and learners can complete it at their convenience. The course material is available 24/7, and learners can choose to cover it in as little as a week or spread it out over several weeks, depending on their schedule and pace.

What is included in IMPOWER: Excel Formulae Explained?

IMPOWER: Excel Formulae Explained covers various Excel formulae, including basic mathematical formulas and advanced statistical formulas. The course includes video tutorials, practice exercises, and real-life examples to help learners master Excel formulas and use them effectively for data analysis and management.

How much does IMPOWER: Excel Formulae Explained cost?

The cost of IMPOWER: Excel Formulae Explained varies depending on the learner’s subscription preference. Interested learners can visit our website to check the current pricing and subscription options available.

Is there a refund policy for IMPOWER: Excel Formulae Explained?

Yes, we offer a refund policy for IMPOWER: Excel Formulae Explained. Within a certain period of purchase, learners can request a full refund if they are not satisfied with the course. Interested learners can check our website to learn more about our refund policy and terms.

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