Without formulas excel workbook is just a playing table. Formulas in excel are codes that give results based on provided inputs and applied logic. Once you become dependent on Microsoft excel for your daily office work, after some time you will start feeling something is missing that can increase your working speed and productivity. That missing thing is advanced excel formulas.
Advanced excel formulas are not as difficult as we think. We just have to understand the logic behind it. Learning more advanced excel formulas will improve your advanced excel skills. Such advanced excel skills will make you recognized even after standing in a crowd.
What are advanced Excel formulas?
Advanced excel formulas are little complicated formulas that can process a variety of data with complex logic. Advanced formulas save lots of time. They allow more functionalities and possibilities to process information and drive results.
Here are more than 10 advanced excel formulas to improve the productivity of your office work. They are easy and listed with examples.
1 IF formula
This formula allows you to test a condition and return one value if the condition is true, and another value if the condition is false. For example,
=IF(A1>B1, "A is greater", "B is greater") will return “A is greater” if the value in cell A1 is greater than the value in cell B1, and “B is greater” if the value in cell B1 is greater.
2 INDEX and MATCH formulas
The INDEX formula returns a value from a list or array based on a specified index. The MATCH formula returns the index of a value in a list or array. These two formulas can be combined to create a powerful lookup formula. For example,
=INDEX(A1:A10, MATCH(C1, B1:B10, 0)) will return the value in column A that is on the same row as the value specified in C1 in column B.
3 SUMIF and COUNTIF formulas
The SUMIF formula allows you to sum values in a range based on a specified criteria. The COUNTIF formula allows you to count the number of cells that meet a specified criteria. For example,
=SUMIF(A1:A10, ">5") will sum all the values in A1:A10 that are greater than 5.
=COUNTIF(A1:A10, ">5") will count the number of values in A1:A10 that are greater than 5.
4 VLOOKUP formula
The VLOOKUP formula allows you to search for a value in a table and return a value from the same row in a different column. For example,
=VLOOKUP(C1, A1:B10, 2, FALSE) will search for the value in C1 in the first column of the table in A1:B10, and return the value in the second column of the same row.
5 NETWORKDAYS formula
This formula calculates the number of workdays between two dates, excluding weekends and holidays. For example,
=NETWORKDAYS(A1, B1) will calculate the number of workdays between the dates in cells A1 and B1.
6 TODAY and NOW functions
The TODAY function returns the current date, and the NOW function returns the current date and time. These functions are useful for inserting the current date or time into a cell. For example,
=TODAY() will insert the current date into a cell, and
=NOW() will insert the current date and time.
7 CONCATENATE function
The CONCATENATE function allows you to combine text from multiple cells into one cell. For example,
=CONCATENATE(A1, " ", B1) will combine the text in cells A1 and B1, separated by a space.
8 IFERROR function
The IFERROR function allows you to handle errors in formulas. It will return a specified value if the formula produces an error, and the result of the formula if it does not produce an error. For example,
=IFERROR(A1/B1, "Error") will divide the values in cells A1 and B1, and return “Error” if the formula produces an error (e.g. if B1 is 0).
9 SUMPRODUCT function
The SUMPRODUCT function multiplies the corresponding items in one or more ranges, and returns the sum of the products. For example,
=SUMPRODUCT(A1:A10, B1:B10) will multiply the values in cells A1 and B1, A2 and B2, etc., and return the sum of all the products.
10 MONTH and YEAR functions
The MONTH function returns the month number for a given date, and the YEAR function returns the year for a given date. For example,
=MONTH(A1) will return the month number for the date in cell A1, and
=YEAR(A1) will return the year for the date in cell A1.
11 NETWORKDAYS.INTL function
The NETWORKDAYS.INTL function is similar to the NETWORKDAYS function, but it allows you to specify the weekend days and holidays to be excluded. For example,
=NETWORKDAYS.INTL(A1, B1, "1111100") will calculate the number of workdays between the dates in cells A1 and B1, excluding Sunday and Saturday as weekend days, and any holidays listed in cells C1:C10.
12 TRIM function
The TRIM function removes extra spaces from a text string. For example,
=TRIM(A1) will remove any leading, trailing, or multiple spaces from the text in cell A1.
13 FIND function
The FIND function returns the position of a substring within a string. For example,
=FIND("world", A1) will return the position of the substring “world” within the text in cell A1.
14 DATE function
The DATE function allows you to build a date from the individual year, month, and day values. For example,
=DATE(2022, 3, 15) will return the date March 15, 2022.
Tips to use advanced excel formula
Here are a few tips for using advanced Excel formulas:
- Understand the syntax: Make sure you understand the syntax of the formula you are using, including the order of the arguments and the required data types. This will help you avoid errors and ensure that the formula produces the results you expect.
- Use named ranges: If you are using a formula that refers to a large range of cells, consider using a named range to make the formula easier to read and understand. To create a named range, select the cells you want to include in the range, and then go to the Formulas tab and click on the Define Name button.
- Use range references carefully: When you use a range reference in a formula, be careful to include the entire range you want to include. For example, if you want to sum the values in the range A1:A10, make sure you use
=SUM(A1:A9), which would only sum the values in the first nine cells.
- Test your formulas: Before you use a formula in your workbook, it’s a good idea to test it to make sure it produces the results you expect. You can do this by entering the formula in a test cell and checking the result.
- Use error checking: Excel includes a number of error-checking tools that can help you identify and fix errors in your formulas. To access the error-checking tools, go to the Formulas tab and click on the Error Checking button.