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Powerful Excel Formulas You Should Know in 2024

Posted on by darion

Powerful Excel formulas

Microsoft Excel remains a powerful tool for analyzing and manipulating data, and staying up to date with the latest formulas is crucial to maximizing productivity and improving your spreadsheets. This guide explains the covers with help from Kenji the five basic categories of Excel formulas: math, date, text, logical, and search functions. Each section includes practical examples and clear explanations to help you understand and effectively apply these formulas in your work. To see the formality in progress, watch the audio recording Kenji is currently creating as he explains.

Mathematical functions

The AGGREGATE The function is a versatile tool that supports operations such as SUM and AVERAGE, ignoring errors. This is especially useful when working with large data sets that may contain hidden rows or errors. For example, `=AGGREGAT(9, 5, A1:A10)` allows you to sum a range, ignoring any potential problems.

When you want to generate random numbers in specific ranges, RANDOM BOARD the function comes in handy. This formula is ideal for creating random samples or simulating data. For example, `=RANDARRAY(5, 1, 1, 100, TRUE)` generates five random integers from 1 to 100, providing a quick way to populate cells with test data.

Date functions

Calculating the difference between two dates is a common task in many projects. DATE feature simplifies this process by allowing you to specify the difference in days, months or years. For example, `=DATEDIF(A1, B1, “Y”)` gives the number of years between two dates, which is useful for calculating the age or timeline of a project.

When precision is key, ROKFRAC The function provides accurate year differences, taking into account leap years. This formula is particularly valuable in financial calculations. Using `=YEARFRAC(A1, B1)`, you can calculate the exact fraction of the year between two dates.

Project managers will appreciate it WORKING DAYS a function that calculates the number of working days between two dates, excluding weekends and holidays. By adding `=WORKING DAYS(A1, B1, holidays)` to your spreadsheets, you can easily determine the available working days in a given period.

Here is a selection of other articles from our extensive content library that you may be interested in, on improving your Microsoft Excel spreadsheet skills for easier data analysis and more:

Text functions

Combining text from multiple cells is incredibly easy with ADD TEXT function. By specifying a delimiter, you can effortlessly create lists or combine data. For example, `=TEXTJOIN(“, „, TRUE, A1:A5)` combines text from cells A1 to A5, separating each item with a comma.

If you want to split text into columns based on a specific delimiter, the file DIVISION OF TEXTS function is the perfect solution. This formula is especially useful for analyzing data from external sources. Using `=TEXTSPLIT(A1, “,”)`, you can quickly split the text in cell A1 into separate columns wherever there is a comma.

Data cleanliness is essential for accurate analysis, a PRIM feature will help you achieve this. By removing extra spaces from text, including leading and trailing spaces and multiple spaces between words, the `=TRIM(A1)` function ensures data is consistent and ready for further processing.

Formatting names or titles is very simple thanks APPROPRIATE function. This formula capitalizes the first letter of each word, giving your data a professional feel. For example, `=PROPER(A1)` immediately converts “John Doe” to “John Doe”.

Logical functions

The IF A function is a fundamental tool for decision-making processes in Excel. It allows you to perform logical tests and return values ​​based on specific conditions. For example, `=IF(A1 > 10, “High”, “Low”)` returns “High” if the value in cell A1 is greater than 10, or “Low” otherwise.

When you need to combine multiple conditions, all of which must be true, a function AND function is your ally. This formula is useful for complex logic tests. For example, `=AND(A1 > 10, B1 < 5)` returns TRUE only if both conditions are true.

In situations where you want to combine multiple conditions and return TRUE if at least one of them is true, the function OR feature comes into play. This formula provides flexibility in the criteria. For example, `=OR(A1 > 10, B1 < 5)` returns TRUE if any of the conditions are true.

Search functions

Consolidating data from different sources is easy with VSTACK function. This formula combines multiple tables into one, streamlining the data management process. For example, `=VSTACK(A1:B5, C1:D5)` stacks two ranges vertically to create one unified table.

This GROUP BY The function is a powerful alternative to pivot tables, allowing you to sum values ​​by specific categories. This formula is invaluable for summarizing data quickly and efficiently. Using `=GROUPBY(A1:B10, A1:A10, “Sum”)`, you can group and sum data based on categories defined in your spreadsheet.

If you want to create a matrix of summarized data by rows and columns, file PIVOTBY function is the perfect solution. This formula is essential for in-depth data analysis, providing a clear overview of the information. For example, `=PIVOTBY(A1:C10, “Rows”, “Columns”, “Values”)” creates a pivot-table-like summary, allowing you to explore your data from different angles.

  • Master these basic Excel formulas to increase your productivity and data processing capabilities.
  • Use math functions such as AGGREGATE and RANDARRAY to perform complex calculations and generate test data.
  • Simplify date calculations with DATEDIF, YEARFRAC and NETWORKDAYS for accurate project planning.
  • Streamline text manipulation with TEXTJOIN, TEXTSPLIT, TRIM and PROPER to ensure data consistency.
  • Implement logical testing and decision-making processes using IF, AND, and OR functions.
  • Efficiently consolidate and summarize data using VSTACK, GROUPBY, and PIVOTBY for comprehensive analysis.

Other useful Excel formulas

  • VERTICAL SEARCH: Searches for a value in the first column of a table and returns a value in the same row from the specified column. Use: =VLOOKUP(lookup_value, table_array, col_index_num, (range_lookup))
  • INDEX and MATCH: Combines two functions to find values ​​in a table based on row and column criteria. Use: =INDEX(return_range, MATCH(lookup_value, lookup_range, 0))
  • IF: Checks whether a condition is met and returns one value if true and another value if false. Use: =IF(logical_test, value_if_true, value_if_false)
  • SUMIF and SUM: Adds all numbers in a range based on single (SUMIF) or multiple (SUMIFS) criteria. Use: =SUMIF(range, criteria, (sum_range)) AND =SUMIFS(sum_range, criteria_range1, criteria1, (criteria_range2, criteria2), ...)
  • COUNTIF and COUNTIF: Counts the number of cells that match one (COUNTIFS) or multiple (COUNTIFS) criteria. Use: =COUNTIF(range, criteria) AND =COUNTIFS(criteria_range1, criteria1, (criteria_range2, criteria2), ...)
  • TEXT: Converts the value to text in the specified number format. Use: =TEXT(value, format_text)
  • CONCATENATE (or CONCAT): Concatenates several text strings into one text string. Use: =CONCATENATE(text1, (text2), ...) AND =CONCAT(text1, text2, ...)
  • LEFT, CENTER and RIGHT: Extracts the specified number of characters from a text string. Use: =LEFT(text, (num_chars)), =MID(text, start_num, num_chars)AND =RIGHT(text, (num_chars))
  • PMT: Calculates loan repayment based on fixed payments and a fixed interest rate. Use: =PMT(rate, nper, pv, (fv), (type))
  • NETWORK DAYS: Returns the number of full business days between two dates, excluding weekends and holidays. Use: =NETWORKDAYS(start_date, end_date, (holidays))

By incorporating these Excel formulas into your workflow, you’ll be well-equipped to handle a wide range of data manipulation and analysis tasks. This structured approach to learning and applying these formulas will enhance your skills and help you take full advantage of Excel’s powerful features in 2024 and beyond.

Video Source: Kenji Explains

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