25 Essential Formulas You Need to Know!
25 Essential Formulas in excel You Need to Know
Table of content –
Understanding the Basics of Excel Formulas,
Top 25 Essential Excel Formulas
| Sum() | Product() | Average() | Min() | Max() |
| If() | And() | Or() | Concatenate() | Left() |
| Right() | Round() | Roundup() | Rounddown() | Count() |
| Countif() | Vlookup() | Hlookup() | Match() | Index() |
| Len() | Year() | Month() | Day() | Now() |
25 Essential Formulas You Need to Know!
Do you use Excel to organize and analyze your data? If so, you’re not alone. According to Microsoft, over 750 million people use Excel every month. Excel is a powerful tool, but it can be difficult to master. Fortunately, there are many formulas and functions that can help you get the most out of Excel. In this blog, we’ll discuss the basics of Excel formulas and explore the top 25 essential formulas you need to know.
Introduction to Excel Formulas
Excel formulas are used to calculate values and perform tasks such as adding, subtracting, multiplying, and dividing. Formulas allow you to make calculations quickly and easily. They can also be used to create more complex calculations, such as finding the average of a series of numbers or calculating the area of a circle. Excel formulas can be used to automate repetitive tasks, such as generating reports or creating charts.
First, each formula begins with an equal sign (“=”). This is important, as it tells Excel that you are entering a formula. Next, you will enter the function name. This is the name of the formula you want to use. For example, if you want to calculate the sum of two numbers, you would use the SUM function.
After the function name, you will enter the parameters. This is the information that the formula needs to perform its calculation. For example, if you are using the SUM function, you will need to enter the values you want to add together.
Finally, you will need to enter the closing parenthesis. This is the symbol that tells Excel that you are finished entering the formula. Once you have entered the formula, you can press “Enter” and the calculation will be performed.
Now that you understand the basics of Excel formulas, let’s take a look at the different types of formulas you can use.
Exploring the Types of Excel Formulas
There are many different types of formulas in Excel. They can be divided into three main categories: arithmetic formulas, logical formulas, and text formulas.
Arithmetic formulas are used to perform basic calculations, such as addition, subtraction, multiplication, and division. For example, you can use the SUM function to add two or more numbers together. You can also use the PRODUCT function to multiply two or more numbers.
Logical formulas are used to make decisions. For example, you can use the IF function to compare two numbers and display a result based on the comparison. You can also use the AND and OR functions to perform multiple comparisons at once.
Text formulas are used to manipulate text. For example, you can use the CONCATENATE function to join two or more pieces of text together. You can also use the LEFT and RIGHT functions to extract parts of text strings.
Now that you’re familiar with the types of formulas you can use in Excel, let’s take a look at the basics of Excel formulas.
Understanding the Basics of Excel Formulas
Using Excel formulas can be intimidating, but it doesn’t have to be. Once you understand the basics, you’ll be able to use formulas with ease. Let’s take a look at some of the key concepts you should know.
First, you should understand the different parts of a formula. As we discussed earlier, each formula begins with an equal sign (“=”). After that, you will enter the function name, followed by the parameters. Finally, you will enter the closing parenthesis.
It’s also important to understand the order of operations. This is the order in which Excel will calculate the formula. The order of operations is the same as the order of operations in mathematics: parentheses, exponents, multiplication and division, and addition and subtraction.
Finally, you should understand the importance of cell references. Cell references are used to refer to the values in other cells in your spreadsheet. For example, if you want to add the values in cells C2 and C5, you can use the following formula: =SUM(C2,C5).
Now that you understand the basics of Excel formulas, let’s take a look at the top 25 essential formulas you need to know.
Top 25 Essential Excel Formulas
1) SUM() :- The SUM formula is used to add two or more numbers together. For example, you can use the following formula to add the values in cells C2 to C5:
=SUM(C2:C5).
2) PRODUCT() :- The PRODUCT formula is used to multiply two or more numbers together. For example, you can use the following formula to multiply the values in cells A2 and B2:
=PRODUCT(A2,B2).
3) AVERAGE :– The AVERAGE formula is used to calculate the average of a series of numbers. For example, you can use the following formula to calculate the average of the values in cells C2 through C5:
=AVERAGE(C2:C5).
4) MIN :- The MIN formula is used to find the smallest number in a series. For example, you can use the following formula to find the smallest value in cells C2 through C5:
=MIN(C2:C5).
5) MAX :- The MAX formula is used to find the largest number in a series. For example, you can use the following formula to find the largest value in cells C2 through C5:
=MAX(C2:C5).
6) IF :- The IF formula is used to make decisions. For example, you can use the following formula to check if the value in cell A2 is greater than 10:
=IF(A2>10,”Yes”,”No”).
7) AND :- The AND formula is used to perform multiple comparisons at once. For example, you can use the following formula to check if the values in cells A2 and B2 are both greater than 10:
=AND(A2>10,B2>10).
8) OR :- The OR formula is used to check if at least one of two conditions is true. For example, you can use the following formula to check if the value in cell A2 is greater than 10 or the value in cell B2 is greater than 10:
=OR(A2>10,B2>10).
9) CONCATENATE :- The CONCATENATE formula is used to join two or more pieces of text together. For example, you can use the following formula to join the text in cells C2 and C5:
=CONCATENATE(C2,C5).
10) LEFT: The LEFT formula is used to extract the leftmost characters from a text string. For example, you can use the following formula to extract the first five characters from the text in cell B2:
=LEFT(A2,5).
11) RIGHT: The RIGHT formula is used to extract the rightmost characters from a text string. For example, you can use the following formula to extract the last four characters from the text in cell B2:
=RIGHT(A2,4).
12) ROUND: The ROUND formula is used to round a number to the nearest whole number. For example, you can use the following formula to round the value in cell B2 to the nearest whole number:
=ROUND(A2,0).
13) ROUNDUP: The ROUNDUP formula is used to round a number up to the nearest whole number. For example, you can use the following formula to round the value in cell B2 up to the nearest whole number:
=ROUNDUP(A2,0).
14) ROUNDDOWN: The ROUNDDOWN formula is used to round a number down to the nearest whole number. For example, you can use the following formula to round the value in cell B2 down to the nearest whole number:
=ROUNDDOWN(A2,0).
15) COUNT: The COUNT formula is used to count the number of cells that contain numbers. For example, you can use the following formula to count the number of cells in range A5:C5 that contain numbers:
=COUNT(A5:C5).
16) COUNTIF: The COUNTIF formula is used to count the number of cells that meet a specific criteria. For example, you can use the following formula to count the number of cells in range A5:C5 that contain numbers greater than 10:
=COUNTIF(A5:C5,”>10”).
18) HLOOKUP: The HLOOKUP formula is used to search for a value in a table. For example, you can use the following formula to search for the value “Apple” in the range C2:C50:
=HLOOKUP(“Apple”,C2:C50,2,FALSE).
19) MATCH: The MATCH formula is used to find the position of a value in a range. For example, you can use the following formula to find the position of the value “vivo” in the range A2:A5:
=MATCH(“vivo”,A2:A5,0).
20) INDEX: The INDEX formula is used to return the value of a cell in a range. For example, you can use the following formula to return the value of the cell in the 3rd row and 2nd column of the range B1:E4:
=INDEX(B1:E4,3,2).
21) LEN: The LEN formula is used to find the length of any given character. For example, you can use the following formula to find length of value in cell A2.
=LEN(A2).
22) YEAR: The YEAR formula is used to extract the year from a date. For example, you can use the following formula to extract the year from the date in cell A2:
=YEAR(A2).
23) MONTH: The MONTH formula is used to extract the month from a date. For example, you can use the following formula to extract the month from the date in cell A2:
=MONTH(A2).
24) DAY: The DAY formula is used to extract the day from a date. For example, you can use the following formula to extract the day from the date in cell A2:
=DAY(A2).
25) NOW: The NOW formula is used to return the current date and time. For example, you can use the following formula to return the current date:
=NOW().
Now that you understand the basics of Excel formulas and have explored the top 25 essential formulas you need to know, let’s take a look at some tips for mastering Excel formulas.
Tips for Mastering Excel Formulas
Using Excel formulas can be intimidating, but with practice, you’ll be able to use them with ease. Here are some tips for mastering Excel formulas:
- Understand the Basics: As we discussed earlier, it’s important to understand the basics of Excel formulas. Make sure you understand the different parts of a formula and the order of operations.
- Practice: The best way to master Excel formulas is to practice using them. Create a spreadsheet and start experimenting with different formulas.
- Use Cell References: When entering a formula, make sure to use cell references instead of typing in the values. This will make it easier to make changes to the formula later on.
- Use Help: Excel has a built-in help feature that can be used to look up information about formulas and functions. If you ever get stuck, make sure to use the help feature.
- Use Online Resources: There are many online resources available to help you learn more about Excel formulas. Make sure to take advantage of them.
Now that you’ve explored some tips for mastering Excel formulas, let’s take a look at the conclusion.
Conclusion
Excel formulas can be intimidating, but with practice, you’ll be able to use them with ease. We’ve explored the fundamentals of Excel formulas and the top 25 essential formulas you need to know. We’ve also discussed some tips for mastering Excel formulas. With the right knowledge and practice, you can unlock your Excel potential and become an Excel pro!
If you’re ready to get started, why not try one of the 25 essential Excel formulas we discussed? With practice, you’ll be able to use them with ease. Unlock your Excel potential today and become an Excel pro!
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