20 Best Excel Cheat Sheet Shhhhh Here are some full potential of Excel with these 20 must-know formulas!
From financial calculations to data validation, this friendly guide helps beginners and experts alike. Learn, apply, and excel!
Excel, the robust spreadsheet tool we all know and love, is not just a grid of cells. It’s a treasure chest full of functionalities waiting to be explored. Whether you’re managing your household budget or analyzing sales data at work, knowing your way around Excel can make life easier and more efficient. So grab a cup of coffee, and let’s dive into 20 essential Excel formulas that can be your best friend in data handling.
Mathematical Functions
- Sum of Sales: We all remember the joy of using calculators for the first time. Excel offers that joy multiplied! Need to find the total sales for the month? Use =SUM(B2:B10)
- Average of Scores: Calculates the mean value of scores in cells C1 to C10. Perfect for averaging grades in a classroom. Averaging your team’s scores? Just apply =AVERAGE(C1:C10) and voila!
Text Functions
- Concatenate First and Last Name: Combines the content of cells A1 and B1 with a space in between. Helpful for creating full names from separate columns. Combine first and last names with =CONCATENATE(A1,” “,B1)
- Get the First 3 Characters of a String: Retrieves the first three characters of a text string in cell A1. Useful for extracting prefixes or codes. get the first three letters of a product code using =LEFT(A1,3). It’s like crafting a personalized message, effortlessly!
Date & Time Functions
- Display Today’s Date: Inserts the current date. Helpful in tracking and timestamping. Whether tracking today’s date with =TODAY()
- Calculate Age: Computes age from a birthdate in A1. Valuable in age-based categorization or verification. Calculating age using =DATEDIF(A1, TODAY(), “Y”), Excel’s date functions are like a time machine for your data.
Logical Functions
- If Salary is Greater Than 50K: Compares salary in B2 and assigns a label. Excellent for categorizing salary ranges. Ever wish you had super decision-making powers? With =IF(B2>5000,”HIGH”,”LOW”)
- AND Function for Qualification: Checks multiple conditions. Ideal for eligibility criteria in tests or qualifications. =AND(A1>50,B1>50), Excel’s logical functions put those powers in your hands.
Lookup Functions
- VLOOKUP for Product Price: Searches for a product’s price in a table. Essential for price lookup in inventories. Find any data with the detective-like precision of =VLOOKUP(A2,B2:D10,3,0)
- INDEX MATCH for Employee Name: Finds an employee name from a list. Powerful for creating dynamic search functions. =INDEX(B1:10, MATCH(A2,a1:A10,0)). Data hiding in rows and columns? Not on your watch!
Financial Functions
- Net Present Value: Evaluates the present value of future cash flows with a 10% discount rate. Crucial in investment decision-making. Become a financial wizard with =NPV(0,1,B2:B6)
- Future Value of Investment: Calculates how much an investment of $100 per month will grow over 10 years with a 5% annual interest rate, compounded monthly. Useful in personal finance planning. =FV(0.05/12,10*12,-100). Budgeting, investing, or planning retirement? You’ve got this!
Statistical Functions
- Max Temperature: Finds the highest value in a temperature dataset. Valuable in weather analysis.
- Min Sales: Identifies the lowest sales number in a dataset. Helpful in identifying weak performance.
Information Functions
- Check if Cell Contains Number: Validates if the content in A1 is numeric. Great for data validation. Maximize insights with =MAX(A1:A30)
- Check if Cell is Blank: Determines if B2 is empty. Useful in error checking and data completeness. =MIN(B2:B50). It’s like having a magnifying glass over your data.
Error Handling
- Error Handling in Division: Avoids division by zero error by displaying a custom message. Enhances user experience by managing errors. Fight errors like a superhero with =IFERROR(A1/B1,”ERROR”)
Array Formulas
- Sum of Multiplication of Two Arrays: Multiplies corresponding elements in two arrays and sums the products. Powerful in mathematical modeling and simulations. Dance with numbers using =SUMPRODUCT(A1:A3, B1:B3). Your spreadsheet, your rules!
Conditional Formatting
- Highlight Cells Above Average: Automatically changes the cell color for values above the average. Useful in visual data analysis.
Data Validation
- Create Dropdown List: Allows only predefined options to be selected. Enhances data entry efficiency and accuracy. Make your data sparkle with Conditional Formatting or create Dropdown Lists with Data Validation.
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These 20 essential formulas are like a Swiss Army Knife for anyone dealing with numbers and data. Friendly, approachable, and fun, Excel invites you to play, discover, and excel. So next time you open that spreadsheet, remember, you’re not just crunching numbers; you’re crafting solutions, insights, and stories. Happy Excel-ing!
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