Excel is very simple, right?
Well, not completely...
Excel is very versatile.
Basically, Excel can be whatever you want it to be.
Excel is single-handedly able to manage and cover various types of grounds for a business... Like accounting, budgeting, sales, marketing KPIs, data analysis, and a lot more. This is achieved through the use of various advanced excel formulas and functions that can be used to do so much more in Excel.
In this blog post, we’re going to share with you an advanced excel formulas list of 13 with examples.
These 13 advanced excel formulas with examples will help you transform lengthy mundane, manual tasks into a few seconds of work.
Every professional should have these advanced excel formulas at their fingertips to save their own precious time, and to make efficient use of their time.
So without further ado, let’s get started with the advanced excel formulas list.
Syntax: =CONCATENATE(string1, [string2, ...])
This is a very straightforward one.
Concatenate allows you to combine the values of several cells into one.
It’s one of the most powerful formulas for conducting data analysis and is commonly used to combine text, dates and numbers. Combining the components of a URL, or the lines of an address, are two typical examples of what the formula is used for.
You have someone’s first name and last name.
Now we want this information to be merged into the same cell, but manually typing it out would take a lot of time. This is where we can use the concatenate excel function.
When we do this, the main challenge is that there is no space between the two strings (names). What we do to counter this is we can simply add another argument: " " (two double quotes around a space). Make sure the three arguments are separated by commas.
Syntax: =AVERAGE(value1, [value2, ...])
This is also another advanced excel formula which is pretty straightforward.
It basically calculates the average of a given series of numbers for you.
Just type in the formula and select the cells that you want to calculate the average for. You can also type in the range of the cells or the individual cells. It’s up to you.
AVERAGE returns the mean of the combined value arguments; that is, the sum of the values in the value arguments divided by the number of such values. Any text encountered in the value arguments will be ignored. To have text values considered as 0 values, use AVERAGEA.
Syntax: =SUMIF(range, criterion, [sum_range])
This advanced excel formula is essential in the world of data analytics.
The formula adds up the values in cells which meet a selected number.
In the above example, we’re calculating the expenses which are above $20.
In this example, we’re calculating the money spent on Taxi.
Syntax: =IF(logical_expression, value_if_true, value_if_false)
This advanced excel formula returns one value if a logical expression is ‘TRUE’ and another if it is ‘FALSE’.
The IF statement helps in using the advanced excel IF function for creating a new field based on these conditions on an already existing track.
This is one of the most used formulas in excel that cleans any unwanted space in the fields. This advanced excel formula basically removes leading, trailing, and repeated spaces in a text.
It is important to use TRIM when text is used in formulas or data validation because spaces in front of or after the text are significant.
In the above example, you can clearly see that the cell ‘A3’ has a lot of unwanted spaces in between. In order for analysts to work with data, often you must clean up the data before use and the trim function allows you to do that with ease.
This advanced excel function basically returns the length of a particular string.
In the example above, we’re calculating the number of characters in the full names.
This advanced excel formula is used to capitalize the first letter of each word in a specified string.
Syntax: =SUBSTITUTE(text_to_search, search_for, replace_with, [occurrence_number])
This excel function is used to replaces existing text with new text in a string.
In this example, we substituted the letter ‘a’ in every name with the letter ‘z’.
We can also set an occurrence number to the formula. By default, all occurrences of search_for are replaced; however, if occurrence_number is specified, only the indicated instance of search_for is replaced.
9. COUNTIF & COUNTIFS
Syntax: =COUNTIF(range, criterion)
This excel formula is used to return a conditional count across a range.
In this case, we wanted to check how many people have the last name “Webb”. The formula returns a value of ‘4’ which is accurate.
Syntax: =COUNTIFS(criteria_range1, criterion1, [criteria_range2, criterion2, ...])
This advanced excel formula is used if there are multiple criteria within a range that you want to check.
In this case, we wanted to check how many people are named “Duke Peterson”. The formula returns a value of ‘2’ which is accurate.
Syntax: =MINIFS(range, criteria_range1, criterion1, [criteria_range2, criterion2], …)
This advanced excel formula returns the minimum value in a range of cells, filtered by a set of criteria.
Syntax: =MAXIFS(range, criteria_range1, criterion1, [criteria_range2, criterion2], …)
This formula returns the maximum value in a range of cells, filtered by a set of criteria.
Syntax: =RANDBETWEEN(low, high)
This advanced excel formula lets you generate a random number between the values you have set. It helps when you want to simulate some results or behavior in the spreadsheets.
Syntax: =SMALL(data, n)
This advanced excel formula returns the Nth smallest value from the selected range. Where ‘N’ is user-defined i.e. you need to supply a range and an integer for ‘nth’ to specify the ranked value.
Syntax: =VLOOKUP(search_key, range, index, [is_sorted])
This advanced excel function is used to look up for a piece of information in a large segment of data and pull that data to your newly formed table.
It searches down the first column of a range for a key and returns the value of a specified cell in the row found. (VLOOKUP is short for "vertical lookup")
In this example, we want to find the dietary restriction for the guest ‘Nancy’. We can do this using the VLOOKUP function and it returns the value ‘None’
We hope you found a lot of value in this article.
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