30 of the Most Advanced Formulas And Functions in Excel
By Indeed Editorial Team
Updated 14 June 2022 | Published 7 September 2021
Updated 14 June 2022
Published 7 September 2021
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
If your job requires you to manage data, you may be familiar with Microsoft Excel, a spreadsheet software that lets you see and analyse data. Excel offers a wide array of features that may assist you with data, whether you are a beginner or a pro. Furthermore, Excel is a Microsoft spreadsheet application that may assist you in data analysis and documentation. In this article, we discuss some of the top advanced formulas in Excel and describe their functions.
What Is Advanced Excel?
Advanced Excel knowledge entails the capacity to efficiently process large amounts of data. It is necessary to complete business activities using spreadsheets, graphs, tables, calculations and automation. Excel is utilised in different ways, depending on the demands and responsibilities of particular departments or job categories. You may improve the presentation of your information up to top management by learning advanced Excel features.
Advanced Excel skills
Apart from the basics, there are a few advanced Excel skill sets that can help you in your business or job. Knowing how to use these Excel features and strategies is essential for anybody looking for work, positive growth or even an entrepreneurial endeavour in nearly any industry. Some of these advanced Excel skills include:
1. Pivot tables
A pivot table helps you summarise, total, rearrange, sort, count, group or average data. It also lets you turn columns into rows and rows into columns. This allows you to sort, count, total or average data from a single big spreadsheet and show it in a summarised form in a new table.
Column charts, bar charts, line charts, scatter charts and pie charts are among the more than 20 chart kinds you can master in Excel. Excel also features a recommended charts page, where you may see how your results will appear by clicking on any chart.
Related: Types of Graphs and Charts
VLOOKUP stands for Vertical Lookup. It is a handy function for finding items in a table or a range by row. It tells Excel to look for a specific variable in a column, such as a table array, to retrieve a value from another column in the same row.
4. Pivot table slicers
Slicers in pivot tables allow you to display data while hiding others as needed. Slicers provide welcoming buttons instead of typical drop-down menus, making the overall user experience more friendly and easy.
5. Power pivots
Power pivots allow the pivot tables to handle considerably bigger data sets. It helps you to link your pivot tables to external databases and refresh them on demand.
6. Conditional formatting
Conditional formatting lets you apply particular formatting to cells that satisfy particular criteria. It is commonly used in spreadsheets as colour-based formatting to distinguish between highlight or accent data and information.
IFERROR is Excel's error-checking function, and it is best for instances where the formulae return an error. It is easy to understand and used to catch and manage mistakes in the formulae. This function returns the value provided by you if a formula returns an error; otherwise, it returns the result calculated according to the formula.
8. Flash fill
The ability to fill out information quickly rather than separately is known as flash fill. When excel senses a pattern in the data, flash fill automatically fills the remaining data. For example, you can use flash fill to separate first and last names from a single column, or combine first and last names from two different columns.
Macros are essentially a collection of commands that the user creates and saves so that they may be executed automatically whenever the procedure is required. You might program a macro to generate a table from your accounts receivable data, restricted by date and styled to highlight past-due payments in red.
10. Data simulations
Making a mathematical model reflect the features of a system is generally the first step in a simulation. While specialist software packages for simulations are available today, someone with advanced abilities may use Excel tools to simulate.
Most Used Excel Formulas
Some of the most used formulas in Excel include:
You may use concatenate to merge the values of many cells into one. It is one of the most powerful data-analysis formulae and it allows you to mix text, dates and numbers. With this formula, you can combine the elements of a URL or even the lines of an address.
SUMIF is one of the most commonly used formulas in excel. This formula sums the values in a range if a particular condition specified by you is satisfied.
3. MAX & MIN
These functions help you to extract the highest and lowest values from a collection of data. You may start by taking the function tab and enter ‘MAX' to receive the maximum value and ‘MIN' to get the minimum value.
COUNTA, like the COUNT function, counts all cells in a range. It does, however, count all cells, regardless of their kind. Unlike COUNT, which only counts numeric, this function also counts times, dates, errors, strings, empty strings, logical values and text.
The TRIM function ensures that disorderly spaces do not cause problems in your data. It guarantees that there are no vacant spots and the data is clean.
A workbook is a single file with a collection of spreadsheets. It is a great method to keep all of your relevant spreadsheets in one location. It is a fundamental Excel skill that is helpful for every entry-level position.
7. ROUND function
This function helps to round up data with a large number of digits just after the decimal point. The cell does not need to be formatted.
8. Page Layout
Page layout is a useful Excel ability to have for the same reasons as cell formatting. Page layout makes sure that your spreadsheets and other data look and print precisely the way you want them to.
PROPER is a string or text function in Excel and it converts the input text to proper case. It is useful to format your data, especially when your database has a lot of strangely formatted text, such as capitalisations in the incorrect places.
10. IF Statements
IF statements are logical functions in Excel which return the values specified by you when the cell meets or does not meet the conditions that you specify.
Complex Formulas In Excel
Some of the complex formulas in Excel include:
1. INDEX MATCH
INDEX and MATCH are strong Excel formula combinations that can help you improve your financial modelling and analysis. INDEX is a table function that returns the data of a cell depending on the row and column number. MATCH function returns the cell's column or row position.
By combining OFFSET with other functions like AVERAGE or SUM, you may build a complex formula. You might create a dynamic function that sums a cell's variable number. You can only do a static calculation with the usual SUM formula, but by using OFFSET, you may now shift the cell reference around.
3. CELL, MID, RIGHT and LEFT functions
You may use the CELL, MID, RIGHT AND LEFT excel functions to combine and produce some complicated and advanced formulae. The CELL function can return a variety of data about a cell's contents, such as its location, name, column and row. LEFT method returns the text from a cell's beginning the MID function delivers text from the cell's start point, left to right. The RIGHT function returns the text from a cell's finish, right to left.
4. Customised MAX MIN
This sophisticated excel formula allows you to extract customisable Max and Min values from a collection of cells in the order and degree that you choose. For example, by entering the correct instructions in the array, you can choose the fifth-highest value from the vast data pool.
AND is a logical function in Excel that allows you to test conditions on your data. If the entered variable meets all of the requirements, it will return the value as TRUE; otherwise, the search returns FALSE.
The OR function differs from the prior AND function in a few ways. The OR method looks for one condition to be TRUE and pulls the value, but the AND function looks for every criterion to be TRUE to provide a TRUE result. The FALSE value returns if it does not meet the conditions.
You may use this sophisticated excel formula to produce a random number between the numbers you have entered.
8. PV function
Based on the input of the variables, the PV function in Excel is a powerful virtual financial expert that can compute the rate, investment periods, payment per period, future value and other arguments.
9. Mathematical functions
A collection of instructions are available for many mathematical programs to calculate values in various areas of mathematics. Excel makes finding aggregate, difference, total, quotient, LCM, GCD and other functions a simple task.
When you are working on a spreadsheet made by someone else, this excel formula helps in finding the category of the data. The Excel TYPE function returns a numeric value representing the "type" of data in five categories: number = 1, text = 2, logical = 4, error = 16 and array = 64.
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