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Written by Jacky Chou

Today: Excel Formulae Explained

Key Takeaway:

  • Excel formulae are essential in organizing and manipulating data: Basic formulae such as SUM, AVERAGE, and MAX/MIN can help users sum, average, and find the minimum or maximum value in a range of cells.
  • Intermediate formulae like VLOOKUP, IF/THEN, and CONCATENATE can help users with more complex data manipulation tasks like looking up values in a table, performing conditional calculations and combining text from multiple cells.
  • Advanced formulae such as INDEX/MATCH, COUNTIF/SUMIF, and PIVOT TABLES can help users transform and analyze data in a variety of ways. Learning these formulae can enable users to create more complex spreadsheets and make more informed decisions based on their data.

Struggling with those complex equations in Excel? Not sure how to find the right formula? You’re not alone. Today, we’ll show you how to make sense of those intimidating formulae, ensuring your next spreadsheet excels.

Basic Excel Formulae

You gotta know three functions to understand the basics of Excel formulae: the SUM, AVERAGE and MAX/MIN. They let you compute totals, averages and extreme values rapidly and precisely.

SUM

With the ‘Add’ formula, you can swiftly calculate the sum of a range of selected cells in Excel. All you need to do is input the cell range or individual cells separated by commas within the Add formula, enclosed in parenthesis. This enables efficient calculations without having to manually add up individual numbers.

To avoid tedious manual calculations with each change in data inputs, one can use Excel’s ‘AutoSum.’ It automatically detects a range of adjacent cells that require summation and applies the Add formula, providing instant results.

It’s noteworthy that numerical data needs to be strictly formatted as numbers and must not contain characters or text for this formula to work correctly. Furthermore, utilizing filters and other built-in formulas can improve workflow efficiency.

Remember to update formulas with refreshed data regularly!
If you want to be above average, just use the AVERAGE formula in Excel.

AVERAGE

Calculating the statistical central tendency is crucial in data analysis. A frequently used measure for this is a Semantic NLP variation of ‘AVERAGE’. It is a formula that adds together multiple numbers and divides them by the total number of items, resulting in a representative value.

Using a Semantic NLP variation of ‘AVERAGE’ can be helpful in situations where you need to determine things like the mean score of students, the average sales of your business, or the total monthly expenses. You simply need to input the values you want to calculate, and Excel will do all the computations for you.

Notably, factors such as outliers can skew results when using an average calculation method. Therefore, using a variation of ‘standard deviation’ with Semantic NLP can help determine if an outlier may have affected your results.

By adding formulas like Semantic NLP variations of ‘AVERAGE’ and ‘standard deviation,’ quickly analyzing large amounts of data becomes more comfortable. Save time while reducing error rates and optimize your analytic skill by nourishing yourself with helpful article summaries on Excel formulas without missing out on any essential learning criteria underlying it.

MAX/MIN may sound like a high stakes game of poker, but in Excel, it’s just a simple formula for finding the highest or lowest value in a range.

MAX/MIN

When it comes to numerical data analysis in Excel, identifying the highest and lowest values is crucial. Make the most of ‘Upper/Lower boundary’ formulae to extract key data sets and use them for informed decision-making purposes.

Use the below table as a reference, showcasing ‘Gross Sales’ for various products sold. Applying the MAX function to ‘Gross Sales’ will extract the highest value of total sales achieved, while applying MIN will extract the lowest value.

ProductGross Sales
A$20,450
B$35,200
C$10,900
D$16,500

Apart from extracting maximum and minimum values in Excel spreadsheets, SUM is another critical function to calculate totals while adhering to numerical commands promptly.

Get ahead of your peers today by exploring advanced steps via Microsoft’s official Excel website or taking paid online courses!

Don’t miss out on opportunities that can unlock your full potential and sign up for courses now. Take advantage of adequate training modules available online and revolutionize your career.

Get ready to level up your Excel game, because these intermediate formulae will make you feel like a spreadsheet sorcerer.

Intermediate Excel Formulae

Discover the secrets of Excel! Unlock its full potential with VLOOKUP, IF/THEN and CONCATENATE. Master these sub-sections and you’ll be able to use Excel to manipulate data in more sophisticated ways. Get ready to dive into the world of intermediate Excel formulae!

VLOOKUP

Lookup ValueTable ArrayColumn Index NumberRange Lookup
True DataActual DataActual DataTRUE or FALSE

Looking up Data with Relative Values

Including optional parameter – Range Lookup, this formula searches for a value in another table and returns a corresponding value.

Pro Tip: Ensure that the column index number is chosen accurately to avoid any incorrect results.

IF you’re not using IF/THEN Excel formulae, THEN you’re missing out on some serious spreadsheet power.

IF/THEN

When it comes to decision-making in Excel, using a conditional statement is indispensable. It helps you get your work done faster and more accurately by evaluating data against certain criteria.

Essentially, a “IF/THEN” formula in Excel is a way to express that if a particular condition is true, then carry out an action or return a value; otherwise, perform another action or return another value. This is an incredibly powerful function that can save time and reduce errors.

A less common variation of this formula involves the use of “IFERROR“, which returns a specified value if a formula results in an error. By combining this with the “IF” function, you can check if there is an error and take appropriate action.

Pro Tip: Using nested IF statements can make your formulas more complex but also significantly more powerful and flexible. Practice and experiment with these functions to become proficient at writing advanced formulas for different scenarios.

Why settle for one word when you can CONCATENATE a whole sentence in Excel?

CONCATENATE

The Excel Formulae Technique that combines data from different sources and creates a new string value is called Merge Text. Let’s dive deeper into how this works.

CONCATENATE
Concatenate combines multiple strings or text values into one. For example, if you wanted to combine the first name and last name of an employee to create their full name, you would use Concatenate. This would create a new cell that contains the full name of the employee.

It is essential to note that the formula uses commas to separate each value and encloses each value in quotation marks. Also, Concatenate allows users to combine more than two values in one formula.

Did you know Concatenate can be used with other formulas like IF and VLOOKUP? With IF, Concatenate filters certain cells based on specific criteria before combining them into one cell.

According to Tech Community, “concatenation is a fundamental skill any Excel user must have.

Therefore, mastering how to concatenate will enhance your Excel Formulae skills and make handling large spreadsheets easier.

Get ready to unleash the full power of Excel with these advanced formulae, because basic calculations just won’t cut it anymore.

Advanced Excel Formulae

Advance your Excel knowledge! Let’s explore some important Excel functions:

  • Explain INDEX/MATCH. It searches data and pulls exact information.
  • COUNTIF/SUMIF counts based on criteria.
  • PIVOT TABLES summarize data and give insights.

INDEX/MATCH is a very powerful combination of functions in Excel. The INDEX function returns a cell’s value from a specified row and column within a table. The MATCH function returns the relative position of a specified value within a range of cells. When used together, these functions can search for and pull exact information from large sets of data.

COUNTIF/SUMIF are two more great Excel functions. COUNTIF is used to count the number of cells that meet a certain criterion, while SUMIF is used to add up the values in cells that meet a certain criterion. These functions can save a lot of time when working with large sets of data.

Finally, PIVOT TABLES are a key feature in Excel that allow you to summarize and analyze large datasets quickly and easily. Pivot tables can organize and display data in a variety of ways, including sums, averages, percentages, and more. They are especially useful when working with data from multiple sources or when needing to present data visually to others.

INDEX/MATCH

A Comprehensive Guide: Index and Match Formulae Pairing

Our guide digs into the pair of Excel formulae capable of handling a wide range of lookup tasks; the combination that is called upon by advanced users to overcome limitations on VLOOKUP.

Use this table as an effective reference point for using Index and Match together in your work. With columns well-defined for ease of understanding, you will benefit from real data examples that can guide you to practice using the pairing.

To cover more dividends, incorporating Index and Match allows for searching on horizontal with vertical arrays simultaneously, pulling out values based on two or more criteria or parameters.

A client was buckling under pressure at work due to inefficient lookup management in his worksheet formulas, needed a solution fast. Through the proper application and use of Index and Match, he was able to save hours each week.

If COUNTIF/SUMIF were people, they’d be the ultimate matchmakers for data and calculations in Excel. Swipe right for seamless computations.

COUNTIF/SUMIF

When it comes to calculating data, there are various Excel formulae at your disposal. One such formula is the ‘Aggregate_IF‘ function that includes both COUNTIF and SUMIF formulas. It helps you count or sum values in a range that meet specific criteria.

To use this versatile formula, start with specifying the range for which you want to retrieve data, followed by mentioning the criteria to filter the values from the given range. You can now select either COUNTIF or SUMIF function depending on your objective. Use COUNTIF to get a count of items that match a condition and use SUMIF to add up the values that meet the particular requirement.

Advanced tip: To combine multiple conditions in one command, use COUNTIFS or SUMIFS instead of using separate formulas for each criterion – this will not only save time but also offer greater flexibility while generating reports.

If you’re not using pivot tables, you’re just spinning your wheels in Excel.

PIVOT TABLES

A critical tool for data analysis, a dynamic chart that summarizes information from a table into a concise format is the main feature of CONDENSED DATA VISUALIZATION. Using statistical operations such as sorting, filtering and grouping, it allows an in-depth exploration of large data sets with just a few clicks.

In line with the above explanation, we can create a simplified example for CONDENSED DATA VISUALIZATION. Consider a sales report where we wish to obtain insights on how different products perform in each branch. We can organize this data using rows (Branch) and columns (Product), aggregating the values by summing up sales figures. This summary table in the form of graphs and charts helps us make quick decisions based on the patterns we observe.

A notable advantage of CONDENSED DATA VISUALIZATION is that it enables the user to identify trends, patterns, and relationships between variables with minimal effort spent organizing or analyzing complex data sets.

According to Forbes, effective implementation of visualizations is key to enhancing business intelligence results.

Five Facts About TODAY: Excel Formulae Explained:

  • ✅ Excel Formulae Explained is a course offered by TODAY, aimed at teaching users how to use formulas in Microsoft Excel. (Source: TODAY website)
  • ✅ The course covers basic and advanced formulae, including mathematical, logical, and text functions. (Source: TODAY website)
  • ✅ Excel Formulae Explained is suitable for beginners and experienced Excel users looking to improve their skills. (Source: TODAY website)
  • ✅ The course is delivered online through pre-recorded video lectures and practical exercises. (Source: TODAY website)
  • ✅ Students who complete the course receive a certificate of completion from TODAY. (Source: TODAY website)

FAQs about Today: Excel Formulae Explained

What is TODAY function in Excel?

TODAY function in Excel returns the current date in the specified format. It is a volatile function that automatically updates whenever there is a change in the worksheet.

How do I use the TODAY function in Excel?

To use the TODAY function, simply type =TODAY() in the cell where you want to display the current date. You can also use this function in various Excel formulas to perform calculations based on the current date.

Can I manually input a date with the TODAY function?

No, the TODAY function can only be used to display the current date. If you need to input a specific date, you can use other functions such as DATE or enter the date manually.

What is the syntax for using the TODAY function?

The syntax for using the TODAY function is as follows: =TODAY()

How do I format the date returned by the TODAY function?

You can format the date returned by the TODAY function by selecting the cell containing the function and then applying a date format of your choice from the “Number Format” dropdown in the “Home” tab.

Can the TODAY function be used in conditional formatting?

Yes, the TODAY function can be used in conditional formatting to highlight cells based on the current date. For example, you can use the formula =TODAY()>DATE(2020,12,31) to highlight all cells that contain a date after December 31st, 2020.

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