Basic Excel Formulas And Functions

Excel Formulas And Functions

Excel is a spreadsheet developed by Microsoft. That helps us to do calculations, graphics tools, pivot tools. Microsoft Excel is considered the industry standard piece of software in data analysis. Microsoft excel program also happens to be the most preferred software by investment bankers and financial analysis in data processing. This guide will provide basic excel formulas and functions list.

One such element that permits Excel to stand apart is – Excel Formulas and Functions. By using these formulas and functions, we can make not only basic calculations like addition and subtraction but also make Excel pivot tables, Data presentation, analysis, and a lot more. In this article, we’ll talk about the different Microsoft Excel capacities and equations. These Formulas and Functions empower you to perform Calculations, information examination, data analysis quicker.

Formula in Excel:

In Excel, a formula is an expression that operates on values in a range of cells or a cell. For example, =A1+A2+A3+A4+A5, which finds the sum of the range of values from cell A1 to cell A5.

Function In Excel:

Functions are eliminated laborious manual entry of formulas while giving them human-friendly names. For Example, =SUM(A1:A5), The SUM function to add up a range of cells.

Use Of Formulas and Functions In Excel:

Formulas have a few advantages from performing calculations. Most likely one that sits at the first spot on the list is the way that an equation saves you time. Imagine you have a complicated worksheet, showing income numbers for your organization. There are sums and subtotals for a few unique arrangements of numbers. Then, at that point envision you entered the aggregates, playing out the computations physically with your trusty adding machine.

The worksheet is finished and prepared to share at the following quarterly business survey. Yet, pause! You just got an email that changes a considerable lot of your numbers, which implies your estimations should all be re-determined. Ugh, truly? Indeed, truly. You can also use a pivot table in your large data records. It works differently depends on which platform you can use in the excel sheet.

How To Use Formulas and Functions In Excel

There are different kinds of basic formulas and functions that you can use in Excel. So lets us discuss how can we make use of Excel Formulas.

1. SUM: Excel Formula

=SUM is a great basic formula to know, especially because it allows you to add up numbers in different ways. Excel easily performs this formula for you, but there are a few tricks to =SUM that provide even more functionality for adding data.

FORMULA: =SUM(number1:number6)

HOW TO USE SUM FUNCTION IN EXCEL:

As you can see, to find the total amount of a unit, we had to simply type in the function “=SUM(B1:B6)”. This automatically adds up to 15000, 8000, 1500, 1000, 600, and 400. The result is stored in C1(26500).

Autosum In Excel:

If You need to sum a single range a row or column, you can have excel autosum to automatically make an appropriate SUM formula for you.

To use autosum a row, Follow these steps:

STEP 1: To SUM a Column, Select the cell which you want to calculate

STEP 2: Click the Formulas

STEP 3: Then click Autosum in Function Library, you can see the calculated total in the selected cell and the SUM formula in the formula bar

2. AVERAGE: Excel Formula

The AVERAGE capacity is sorted under Excel Statistical capacities. It will return the normal worth of a given series of numbers in Excel. It is utilized to figure the math mean of a given arrangement of contentions in Excel. This step will show you, step by step, how to figure the Average in Excel.

FORMULA: =AVERAGE(number1:number5)

HOW TO USE AVERAGE FUNCTION IN EXCEL:

To use AVERAGE a row, Follow these steps:

STEP 1: Enter the sample data on your worksheet which you want to average

STEP 2: In cell B6, Enter the AVERAGE formula[=AVERAGE(B1:B5)]

STEP 3: Then press the Enter key, you will see the average result.

3. MAX & MIN: Excel Formula

There are two of the more useful yet simple Excel formulas that Microsoft Excel offers are ‘MIN’ and ‘MAX’.

How To Use MAX/ MIN Function In Excel

The MAX Function is categorized under Excel Statistical functions. MAX Function will return the largest value in a given list of arguments. For Example, this formula will find the highest marks in the cells.

The MIN Function is categorized under Excel Statistical functions. MIN Function will return the lowest value in a given list of arguments. For Example, this formula will find the lowest marks in the cells.

FORMULA: =MAX(number1:number5)

To use MAX/MIN a row, Follow these steps:

STEP 1: Enter the sample data on your worksheet which you want to know the maximum/ Minimum number

STEP 2: In cell B7, Enter the MAX formula [=MAX(B1:B5)] / MIN formula [=MIN(B1:B5)]

STEP 3: Then press the Enter key, you will see the result.

4. COUNT/COUNTA : Excel Formula

Excel has many specific capacities to perform different remarkable computations and a few calculations are performed with a mix of at least two capacities together. When we talk about counting cells containing explicit qualities, we need to manage COUNT/ COUNTA works in Excel.

You use the COUNT function in Excel to count the number of cells that contain numerical values.

The COUNTA function in Excel counts the number of cells in a range that is not empty.

To use COUNT/COUNTA, Follow these steps:

STEP 1: Enter the sample data on your worksheet

STEP 2: In a cell, Enter the COUNT formula [=COUNT(A1:A5)] / COUNTA formula [=COUNTA(B1:B5)], Then press Enter, you will see the results.

The following image shows the difference: while COUNT processes only numbers, COUNTA outputs the total number of non-blank cells.

5. POWER: Excel Formula

The POWER function is a built-in function in Excel. POWER Function returns to a given power.

In Excel 2 to the 5th power, returns 32.

How To Use Power In Excel?

To use power in Excel, follow these steps:

STEP 1: Enter the sample data on your worksheet

STEP 2: In a cell, Enter the POWER formula [=POWER(A1, A2)] OR [=POWER(2,5)] Then press Enter, you will see the results.

Conclusion On Formulas In MS Excel.

Excel is a very powerful spreadsheet application for data analysis and reporting. You use the Excel sheet formula in cells with at least one information cells to compute the different choices. To ease working with different values and/or choices, you can put the controls from either the Control toolbox or the Forms toolbar to good use. Proper use of these controls makes your models easier to use. After reading this article, you would have learned the important Excel formulas and functions that will help you perform your tasks better and faster. We looked at numeric, text, data-time, and advanced Excel formulas and functions. Needless to say, Excel knowledge goes a long way in shaping many careers.

The controls also enable you to ease data entry and at the same time improve data quality by minimizing the risk of wrong entries. For “everyday” use, I suggest the Forms controls. If there are specific options you need that are not offered by the form controls, you can also implement the Control toolbox (ActiveX) controls.