Data visualization is important for every corporation. Excel is one of the most popular data visualization tools developed by Microsoft and also one of the most important tools for any working professional irrespective of the domain. Excel is a foundational tool for programmers who have started working with data science, data visualization, and business analytics.
Even though Excel is an extremely powerful and must-know tool, a lot of the workforce still is unaware of its functioning. A lot of companies have started offering in-house advanced excel training to its employee to solve this problem. Today, we will also discuss some of the advanced Excel formulas to make computing quick and easy in Excel for users.
Table of Contents
- Top 8 Advanced Excel formulas
- INDEX MATCH
- DSUM FORMULA
Top 8 Advanced Excel formulas
The following are the most used excel formulas –
Xlookup is a recently introduced formula in the Excel 365 version and is considered the king of excel formulas. It allows users to search for a specific value in a table or range and return a corresponding value in another column.
Formula to use Xlookup: =XLOOKUP(lookup_value, lookup_array, return_array)
2. INDEX and MATCH
The INDEX MATCH function is also one of the most powerful and popular advanced excel formulas. The two separate functions make a powerful combination for data search in business analytics. This formula helps to overcome the drawbacks of the Vlookup function and Hlookup functions.
INDEX MATCH formula: =INDEX(return_range, MATCH(lookup_value, lookup_range, match_type))
SUMPRODUCT is used for advanced and complex calculations in excel. It is an Excel function that supports multiple formulas in one go. It is used for performing calculations based on multiple criteria, finding the weighted average of a set of numbers, and generating a count of unique values in a range.
SUMPRODUCT Formula: =SUMPRODUCT(array1, [array2], [array3], …)
The SUMIF formula is used to sum the values of data in a range of cells by checking a simple condition specified in the formula.
The SUMIF formula goes through all the data in the range of cells and checks if the criteria have passed or failed. These criteria are input by the user. It can be a number, string, or mathematical condition. This function is useful when there is a particular criterion for data searching and data operations.
SUMIF formula: =SUMIF(range, criteria, [sum_range])
5. DSUM FORMULA
DSUM is the short form of the Database Sum formula. It is one of the most popular excel formulas used by senior-level excel professionals. It is a more advanced version of SUMIF.
The DSUM function is used when users need to work with a large database that needs more complex criteria to be segregated. DSUM lets you can handle an entire data set in a database at a time instead of interacting with one cell at a time.
To use a DSUM function, the user has to specify the range of the database, the field/category to be summed, and the criteria.
DSUM Formula: =DSUM(database, field, criteria)
OFFSET is often used with other Excel formulas to create and organize the data results. To use the OFFSET formula, specify the reference of the cell, rows, and columns.
OFFSET Formula: =OFFSET(reference, rows, columns])
IFERROR is very useful when working with complex formulas and large datasets. The IFERROR formula is used to handle errors in Excel formulas and is famous for its error recognition.
The formula ensures that the other formulas used are working correctly. It also makes sure that all the formulas and operations are correctly updated. To use this formula, specify the formula and the value that needs to be returned if the formula goes wrong.
IFERROR Formula: = IFERROR(value, value_if_error)
TEXTJOIN is a more advanced version of the Concatenate Function. The TEXTJOIN function offers more flexibility and it offers to use a delimiter to add to the string so that they can be separated.
TEXTJOIN function can also ignore the empty spaces and cells which don’t contain any string information. To use a TEXTJOIN function, specify the delimiter that needs to be used to separate the strings and the range of the cells which need to be joined.
TEXTJOIN Formula: =TEXTJOIN(delimiter, ignore_empty, text1, [text2], …)
These are examples of beginner-friendly Excel formulas that anyone with strong fundamentals in Excel can work with. Xlookup, INDEX-MATCH, DSUM, IFERROR, and TEXTJOIN are some of the most important excel formulas. If you are someone who loves data science and data visualization and you want to kickstart your journey in the field, you must possess excellent skills and knowledge in using Excel.