60 Advanced Excel Formulas – A Must Know For All Professionals

Ever found yourself staring at a massive Excel spreadsheet, wondering how to make sense of all the numbers? That’s where Excel formulas come to the rescue! Whether you're managing financial reports, analyzing sales data, or planning a project, formulas in Excel simplify complex calculations, save time, and enhance accuracy.

From basic functions like SUM and AVERAGE to advanced Excel formulas like VLOOKUP and INDEX-MATCH, these tools are designed to boost productivity and streamline workflows. Learning these formulas isn't just about crunching numbers—it's about making smarter decisions faster.

In this guide, we’ll explore the power of Excel formulas, highlight their importance in data analysis, and provide a list of advanced Excel formulas every professional should know. 

Let’s unlock the full potential of Excel together!

Advanced Excel Mathematical Formulas to Enhanced Efficiency

Excel formulas are powerful tools for simplifying complex calculations, analyzing data effectively, and enhancing productivity. Mastering Excel formulas can significantly improve your efficiency.

These formulas help you perform basic and complex calculations, such as addition, multiplication, and rounding values.

Explore more about Excel worksheets and formulas in this tutorial.

1. SUM() – Basic Formula in Excel to Add Values

The SUM() formula in Excel adds all the numbers in a specified range or set of values. It works only on cells with numerical data.

• Explanation of SUM Formula in Excel: =SUM(D1:D3) will add the values in cells D1 through D3, providing a total. By using the SUM formula in Excel, you can efficiently calculate totals, making it a fundamental function for financial analysis, budgeting, and data management.

Did You Know?

If you press Alt + =, Excel will instantly apply the SUM() formula and total up selected numbers without requiring you to type the formula manually.

2. AVERAGE()   – Excel Formula to Find the Mean

The AVERAGE()  formula in excel is used to calculate the mean of a range of numbers by dividing their total by the count of the numbers.

• Explanation of Average Formula in Excel : =AVERAGE(C3:C10) computes the average of values in cells C3 to C10, a core formula for data analysis.

3. COUNT() – Count Numeric Cells Using Excel Formula

COUNT() counts the number of numeric values in a specified range.

• Explanation: =COUNT(D1:D10) counts how many numeric entries exist in cells D1 to D10. It’s useful for large datasets.

4. COUNTA()– Formula to Count Non-Empty Cells in Excel

COUNTA() counts all non-empty cells, including text and numbers.

• Explanation: =COUNTA(C1:C15) counts all non-blank cells in the range C1 to C15.

5. COUNTIF() – Conditional Count Formula in Excel

COUNTIF() counts the number of cells in a range that meet a specific condition.

• Explanation: =COUNTIF(A2:A9, "Printer")  Here, we want the COUNTIF function to count the number of items, in the range A2:A9 

6. SUMIF() – Excel Formula to Add with One Condition

SUMIF() adds numbers in a range that meet a specific condition.

• Explanation: 
  • Range: B2:B10 - The range where the condition (e.g., "North") is checked.
  • Criteria: "North" - The condition to filter the range or a cell reference like F1 containing the condition.
  • Sum_range: C2:C10 - The range of sales amounts to the sum where the condition is met.
  • Formula: =SUMIF(B2:B10, "North", C2:C10) - Adds values from C2:C10 where B2:B10 equals "North."
  • Dynamic Option: Replace "North" with F1 for flexibility: =SUMIF(B2:B10, F1, C2:C10

7. SUMIFS() – Use Excel to Sum with Multiple Conditions

SUMIFS() formula in excel adds numbers in a range based on multiple conditions.

• Explanation: =SUMIFS(K6:K10, L6:L10, ">50",M6:M10, "<100") adds values in K1:K10 where L1:L10 is greater than 50 and M1:M10 is less than 100.

Learn about the differences between Google Sheets and Excel for data analysis.

Advanced Excel Statistical Formulas for Improved Data Analysis

Statistical formulas help find averages, minimums, maximums, and more useful for analyzing data. Learn about the differences between Google Sheets and Excel for data analysis.

Statistical Excel formulas are essential for analyzing data effectively. They help calculate averages, find minimum and maximum values, and uncover key insights to boost productivity and decision-making.

8. MIN() – Basic Excel Formula to Find the Smallest Value

MIN() returns the smallest value in a range.

The MIN() function in Excel is a powerful tool from the advanced ms Excel formulas list, designed to return the smallest value in a given range. This essential function is a must-have in any Excel formula list, helping users simplify data analysis and enhance productivity.

• Explanation: = MIN(number1, [number2], …)’. If it’s a range, then the formula will look something like, ‘=MIN(C2:C9)’

9. MAX() – Excel Function to Get the Highest Value

The MAX() function in Excel returns the largest value in a range, making it a key tool in the advanced MS Excel formulas list. It is widely used for data analysis and simplifying tasks in professional spreadsheets.

• Explanation: =MAX(B2:B8) gives the highest number in the range B2 to B8.

1. Range: B2:B8 is the range of values.
2. Formula: =MAX(B2:B8) calculates the largest value in this range.

Result:

• The highest number in the range B2:B8 is 92. This value will be displayed wherever the formula is applied.

Get more insights about the MAX() function in this detailed tutorial.

10. PRODUCT() – Excel Math Formula to Multiply Values

The PRODUCT() function in Excel multiplies all numbers in a specified range, making it a valuable addition to any advanced MS Excel formulas list. It is ideal for simplifying complex calculations and enhancing efficiency in spreadsheets.

• Explanation: =PRODUCT(X2:X6) multiplies the numbers in cells X2 through X6.
• Result: The result of multiplying 2 * 3 * 5 * 4 * 6 is 720. This value will appear in the cell containing the formula.

11. POWER()  – Advanced Excel Formula for Exponents

The POWER() function in Excel raises a number to the power of a specified exponent, making it a vital part of the advanced MS Excel formulas list. This function simplifies mathematical computations and enhances data analysis efficiency.

• Explanation: =POWER(3, 2) returns 9, which is 3 squared.

1. Base: B2 contains the base number (3).
2. Exponent: C2 contains the power to which the base is raised (2).
3. Formula: =POWER(B2, C2) calculates 3 raised to the power of 2.

Result:

• The result is 9 since 32=93^2 = 932=9. This value appears in the corresponding cell.

12. SQRT() – Simple Excel Formula to Find Square Root

The SQRT() function in Excel calculates the square root of a given number, making it an essential addition to the advanced Excel formulas list. This function is widely used for simplifying mathematical computations and improving productivity in data analysis.

• Explanation: =SQRT(16) returns 4.
• Value: A2 contains the number (16) for which you want to find the square root.
• Result: The square root of 16 is 4, which appears in the cell containing the formula.
•  

Did You Know?

Microsoft Excel was first released in 1985 for Mac and later for Windows in 1987. It has since become one of the most widely used spreadsheet programs in the world.

Advanced Excel Formatting Formulas for Professional Spreadsheets

These advanced MS Excel formulas allow you to format data, such as rounding numbers or converting them into specific formats. Discover how to enhance data presentation with Excel formatting techniques.

13. ROUND()  – Basic Excel Formula to Round Numbers

The ROUND() bfunction in Excel rounds a number to a specified number of digits, ensuring precision and improving the accuracy of your data calculations.

• Explanation: =ROUND(123.456, 2) returns 123.46.
• Value: A2 contains the number (123.456) that needs rounding.
• Result: The rounded value of 123.456 is 123.46, which appears in the formula cell.

14. ROUNDUP()  – Excel Function to Round Up Values

The ROUND() function in Excel rounds a number to a specified number of digits, ensuring precision and improving the accuracy of your data calculations.

• Explanation: =ROUNDUP(123.456, 1) returns 123.5.
• Value: A2 contains the number (123.456) that you want to round up.
• Result: The value 123.456 is rounded up to 123.5, regardless of the remaining decimals. This result will appear in the cell containing the formula.

15. ROUNDDOWN() – Excel Formula to Round Down Precisely

The ROUNDDOWN() function in Excel rounds a number down to the nearest specified decimal place, making it a valuable addition to any advanced Excel formulas list. This essential tool is often included in Excel formula lists for ensuring precise and consistent data calculations.

• Explanation: =ROUNDDOWN(123.456, 1) returns 123.4.
• Value: A2 contains the number (123.456) that you want to round down.
• Result: The value 123.456 is rounded down to 123.4, and this appears in the formula cell.

16. CEILING() – Advanced Excel Formula to Round Up to Nearest Multiple

The CEILING() function in Excel rounds a number up to the nearest multiple of a specified significance, making it a key tool in advanced Excel functions for precise and efficient data calculations.

• Explanation: =CEILING(23.25, 0.5) returns 23.5.
• Value: A2 contains the number (23.25) that you want to round up to the nearest multiple.
• Result: The value of 23.25 is rounded up to 23.5, the nearest multiple of 0.5. This result appears in the cell with the formula.

17. FLOOR() – Excel Math Formula to Round Down to Nearest Multiple

The FLOOR() function in Excel rounds a number down to the nearest multiple of a specified significance. This powerful feature is a valuable addition to the advanced Excel formulas list, ensuring accurate and consistent data handling in your spreadsheets.

• Explanation: =FLOOR(23.25, 0.5) returns 23.
• Value: A2 contains the number (23.25) that you want to round down.
• Result: The value of 23.25 is rounded down to 23, the nearest lower multiple of 0.5. This is particularly helpful for rounding values to specific intervals.

Advanced Excel Logical Formulas for Efficient Decision-Making

Logical formulas in Excel evaluate data based on specific conditions and return results as TRUE or FALSE, making them essential for efficient decision-making in spreadsheets.

18. IF()  – Logical Formula in Excel for Conditional Analysis

The IF() function in Excel is a key part of the advanced Excel formulas list. It returns one value if a condition is TRUE and another if it is FALSE, making it essential for creating dynamic and efficient spreadsheets.

Explanation: =IF(A4>50, "Pass", "Fail") checks if A4 is greater than 50 and returns "Pass" or "Fail."

1. Condition: Check if the value in column A is greater than 50.
2. Formula:
   1. If the condition is TRUE, it returns "Pass".
   2. If the condition is FALSE, it returns "Fail".
3. Explanation Results:
   1. For A4=75, it returns "Pass" since 75 > 50.
   2. For A5=45, it returns "Fail" since 45 is not greater than 50.
   3. For A6=55, it returns "Pass" since 55 > 50.

19. AND() – Excel Logical Function to Check Multiple Conditions

The AND() function in Excel checks multiple conditions and returns TRUE if all are met, making it an essential part of any comprehensive Excel formula list for streamlining data analysis and logical operations.

• Explanation: =AND(A4>0, B4<100) returns TRUE if both conditions are met.

1. Condition 1: Checks if the value in column A is greater than 0.
2. Condition 2: Check if the value in column B is less than 100.
3. Formula:
   1. If both conditions are TRUE, the formula returns TRUE.
   2. If either or both conditions are FALSE, it returns FALSE.
4. Explanation Results:
   1. For A4=50 and B4=80, both conditions are met, so the result is TRUE.
   2. For A5=-10 and B5=90, the first condition is FALSE, so the result is FALSE.
   3. For A6=30 and B6=120, the second condition is FALSE, so the result is FALSE.

20. OR()  – Simple Excel Formula to Validate Multiple Criteria

The OR() function in Excel checks multiple conditions and returns TRUE if at least one condition is met. This versatile function simplifies logical operations and enhances data analysis in your spreadsheets.

• Explanation: =OR(A2>50, B2<20) returns TRUE if any condition is met.

1. Condition 1: Checks if the value in column A is greater than 50.
2. Condition 2: Check if the value in column B is less than 20.
3. Formula:
   1. If either condition is TRUE, the formula returns TRUE.
   2. If both conditions are FALSE, it returns FALSE.

Result

1. Row 1: A2=60 and B2=15.
   1. Condition 1: TRUE (60 > 50).
   2. Condition 2: TRUE (15 < 20).
   3. Result: TRUE (either condition is TRUE).
2. Row 2: A3=40 and B3=25.
   1. Condition 1: FALSE (40 is not > 50).
   2. Condition 2: FALSE (25 is not < 20).
   3. Result: FALSE (both conditions are FALSE).
3. Row 3: A4=30 and B4=10.
   1. Condition 1: FALSE (30 is not > 50).
   2. Condition 2: TRUE (10 < 20).
   3. Result: TRUE (either condition is TRUE).

21. NOT() – Microsoft Excel Logical Formula to Reverse Conditions

The NOT() function in Excel reverses the logical value of a condition, returning TRUE if the condition is FALSE and vice versa. This powerful tool from the advanced Excel formulas list is ideal for refining logical operations in your spreadsheets.

• Explanation: =NOT(A2>50) returns TRUE if A2 is not greater than 50.

1. Condition: Check if the value in column A is not greater than 50.
2. Formula:
   1. NOT() inverts the logical value of the condition:
      1. If A2 > 50, the formula returns FALSE.
      2. If A2 <= 50, the formula returns TRUE.

Explanation Results:

1. Row 1: A2=40.
   1. Condition: 40 > 50 is FALSE.
   2. NOT(FALSE) returns TRUE.
2. Row 2: A3=60.
   1. Condition: 60 > 50 is TRUE.
   2. NOT(TRUE) returns FALSE.
3. Row 3: A4=50.
   1. Condition: 50 > 50 is FALSE.
   2. NOT(FALSE) returns TRUE.

22. IFERROR() – Advanced Excel Function to Handle Errors Gracefully

The IFERROR() function in Excel returns a specified value if a formula results in an error; otherwise, it provides the formula’s actual result. This essential tool from the advanced Excel formulas list helps improve error handling and ensures smoother data analysis.

• Explanation: =IFERROR(A2/B2, "Error") returns "Error" if B2 is 0 or blank.

1. Condition: The formula divides the value in column A by the value in column B.
2. Error Handling:
   1. If the division operation results in an error (e.g., dividing by 0 or blank cells), the formula returns "Error".
   2. Otherwise, it returns the result of the division.

Result: 

1. Row 1: A2=10, B2=2.
   1. Division: 10 / 2 = 5.
   2. Result: 5.
2. Row 2: A3=15, B3=0.
   1. Division: 15 / 0 results in an error (#DIV/0!).
   2. IFERROR replaces the error with "Error".
3. Row 3: A4=20, B4=(Blank).
   1. Division: 20 / Blank results in an error.
   2. IFERROR replaces the error with "Error".

Did You Know?

Excel supports a maximum of 1,048,576  rows and 16,384 columns per worksheet, making it a powerful tool for handling large datasets.

Excel Lookup and Reference Formulas Simplified

These MS Excel formulas are highly effective for searching and retrieving data within large datasets. Functions like VLOOKUP and INDEX-MATCH streamline data management and analysis.

23. VLOOKUP() – Most Used Excel Formula for Vertical Data Search

VLOOKUP() formula in Excel is a powerful function that allows you to search for a value in the first column of a range and returns a value in the same row from another column.

To understand how to use the VLOOKUP formula in Excel, consider the following example:

• Explanation: =VLOOKUP(101, A2:C5, 2, FALSE) finds 101 in column A and returns the value in column B from the same row.

1. Search Value: The formula searches for 101 in Column A (ID).
2. Range: The data range is A2:C5 (all columns containing the data).
3. Column Index: 2 specifies that the value to return is from Column B (Name).
4. Match Type: FALSE ensures an exact match for the value 101.
5. Result: The formula finds 101 in Column A and retrieves the corresponding value "Vikram" from Column B. 

By using the VLOOKUP formula in Excel, you can efficiently find and retrieve relevant data, making spreadsheet management more effective.

24. HLOOKUP() – Easy Excel Formula for Horizontal Lookup

HLOOKUP() searches for a value in the first row of a range and returns a value in the same column from a specified row.

• Explanation: =HLOOKUP("Region", A1:C3, 3, FALSE) finds "Region" in row 1 and returns the value in row 3 from the same column.

1. Lookup Value: "Region" is the value to be found in Row A (headers).
2. Table Range: A1:C3 specifies the range where the search will occur, spanning rows A through C and columns 1 through 3.
3. Row Index: 3 specifies that the value to return is from Row C (States).
4. Match Type: FALSE ensures an exact match for the lookup value "Region"
5. Result: The formula finds "Region" in Row A and retrieves the corresponding value "South" from Row C.

This example is ideal for data organized horizontally with region-specific information.

25. INDEX() – Advanced Excel Formula to Locate Cell Values

INDEX() retrieves the value of a cell within a range based on specified row and column numbers.

• Explanation: =INDEX(A3:C5, 2, 3) returns the value in the second row and third column.

1. Range: A3:C5 defines the area of the table you want to search.
   1. It includes rows 3 to 5 (Mango to Peach) and columns A to C.
2. Row Number: 2 specifies that the formula will retrieve data from the second row of the range (Row 4 in the sheet).
   1. The second row in the range (A3:C5) corresponds to Row 4 in the original sheet.
3. Column Number: 3 specifies that the formula will retrieve data from the third column of the range (Column C in the sheet).
4. Result: The value in the second row and third column of the range A3:C5 is Grapes.

26. MATCH() – Find Data Position Using Excel MATCH Formula

The MATCH() function in Excel, an essential part of the advanced Excel formulas list, returns the position of a specific value within a range. It's a key tool for efficient data lookup in professional spreadsheets.

• Explanation: =MATCH(50, A1:A10, 0) finds 50 in the range A1:A10 and returns its position.

Explanation:

1. Range: A1:A10 specifies the range of cells in Column A where the formula will search for the value 50.
2. Lookup Value: 50 is the value being searched within the specified range.
3. Match Type: 0 specifies an exact match.
4. Result: The value 50 is found in the eighth position within the range A1:A10.The formula returns to position 8, indicating that 50 is the fifth item in the specified range.

27. OFFSET() – Dynamic Range Reference Formula in Excel

The OFFSET() function in Excel returns a reference to a cell or range of cells that is a specified number of rows and columns away from a starting point.

• Explanation: =OFFSET(A2, 3, 2) returns the value two rows below and one column to the right of A2

1. Starting Reference (A2):
   1. The formula starts at cell A2 (value: "Apple").
2. Row Offset (3):
   1. The formula moves 3 rows down from A2.
   2. Starting from Row 2, it lands on Row 5 (row with "Grape").
3. Column Offset (2):
   1. From the starting column (Column A), it moves 2 columns to the right.
   2. Moving from Column A → Column C, the formula lands on the cell in Row 5, Column C.

Result:

1. The value at the cell Row 5, Column C is "Blueberry", which is the result of the formula.

28. CHOOSE() – Select Specific Values with Excel CHOOSE Formula

The CHOOSE() function in Excel selects a value or action from a list based on a specified index number. This powerful tool is ideal for simplifying decision-making and creating dynamic formulas in your spreadsheets.

• Explanation: =CHOOSE(D1, A2, A3, A4, A5) dynamically selects a value from the list of names based on the number in D1. Since D1 = 3, the formula returns "Shikha", which is the 3rd value in the range A2:A5
• Understanding the Formula: Formula in D2: =CHOOSE(D1, A2, A3, A4, A5)

This formula dynamically selects a value from the list of names in A2:A5 based on the number provided in D1.

Breakdown of Components:

1. Input Values:
   1. D1 (Random P): The value in D1 is 3, which acts as the index_num.
   2. A2:A5 (List of Names): The list includes:
      1. A2: Nandini
      2. A3: Khushi
      3. A4: Shikha
      4. A5: Neha
2. Formula Logic:
   1. The CHOOSE function uses the value in D1 (3) to pick the 3rd value from the list A2:A5.
   2. Since the 3rd value is "Shikha" (in A4), the formula returns "Shikha" in D2.
3. Output: The formula evaluates the list and returns Shikha as the winner because D1 = 3.

29. INDIRECT() – Create Dynamic Cell References in Excel

The INDIRECT() function in Excel returns a cell reference based on a specified text string, allowing for dynamic and flexible data referencing.

• Explanation: =INDIRECT("C2") returns the value in cell D2.

Steps to Recreate in Excel:

1. Input the Data:
   1. Enter values 10, 18, 29, 21, 35, and 27 into cells A2:A7.
   2. Enter the text A6 into cell C2.
2. Apply the Formula:
   1. In cell D2 (or any empty cell), type the formula:
      =INDIRECT(C2)
3. Formula Logic:
   1. C2 contains the text "A6".
   2. The formula =INDIRECT(C2) interprets "A6" as a cell reference and retrieves the value stored in A7, which is 27.

• Result: The value 35  (stored in A6) is displayed as the result in D2 or the cell where you input the formula.

30. TRANSPOSE() – Rearrange Data in Excel with TRANSPOSE Formula

The TRANSPOSE() function in Excel changes the orientation of a range of cells, converting rows to columns or columns to rows. This versatile tool, featured in advanced Excel formulas lists, simplifies data formatting and enhances spreadsheet organization.

1. Explanation: =TRANSPOSE(A1:A5) converts the column range A1:B4 into a row.
2. Data is originally presented in two columns:
   1. Column A contains months (Jan, Feb, Mar, Apr).
   2. Column B contains associated numbers (100, 200, 150, 300).

Steps in the Explanation:

1. Input Data:
   1. The range A1:B4 contains the source data.
2. Select Output Range:
   1. Select the output area (in this case, A6:D7) where the transposed data will appear.
   2. This selection must match the number of rows and columns after transposition:
      1. Original range: 4 rows × 2 columns.
      2. Transposed range: 2 rows × 4 columns.
3. Enter the Formula:
   1. In the output area starting at A6, enter the formula:
      {=TRANSPOSE(A1:B4)}
4. Press Ctrl + Shift + Enter:
   1. Because TRANSPOSE is an array formula, pressing Ctrl + Shift + Enter ensures it calculates correctly.

31. CONCATENATE() – Combine Text in Excel Easily

The CONCATENATE() function in Excel joins two or more text strings into one, making it an essential feature in advanced Excel formulas lists for efficient text management.

• Explanation: =CONCATENATE(B2, " ", A2) joins A2 and B2 with a space in between.

This example demonstrates the use of the CONCATENATE function in Excel to combine text from two columns into a single column.

Explanation:

1. Columns:
   1. Column A: Last Name.
   2. Column B: First Name.
   3. Column C: Age (not used in the formula).
   4. Column D: Full Name (output).
2. Formula in D2:
   1. =CONCATENATE(B2, " ", A2) combines:
      1. B2 (First Name),
      2. A space " " to separate the names,
      3. A2 (Last Name).
   2. Explanation: For Row 2, "Alex" and "Jones" are combined as "Alex Jones".
3. Result:
   1. The combined full names are displayed in Column D, e.g.,:
      1. "Alex Jones" (Row 2),
      2. "Betty Smith" (Row 3), and so on.
4. Drag to Apply:
   1. The formula is dragged down the column to apply to other rows automatically.

32. TEXTJOIN() – Join Multiple Text Strings in Excel

The TEXTJOIN() function in Excel combines multiple text strings using a specified delimiter while ignoring empty cells. This advanced feature is a valuable addition to any Excel formula list for efficient text management and organization.

• Explanation: In an empty cell, type the formula:
  =TEXTJOIN(", ", TRUE, A2:A5)
• Result: The formula will return:
  Apple, Banana, Cherry, Date

33. LEFT() – Extract Text from the Start of a String

The LEFT() function in Excel extracts a specified number of characters from the beginning of a text string. It’s a key feature in advanced Excel formula lists, simplifying text manipulation for better data organization.

• Explanation: In the above example the result comes “excel” which means the first five characters of A2 by applying the following formula,
• =LEFT(A2, 5) returns the first 5 characters of A2.
• Result: Excel 

34. RIGHT() – Get Text from the End of a Cell in Excel

The RIGHT() function in Excel extracts a specified number of characters from the end of a text string, making it a valuable tool for efficient text manipulation in advanced Excel formula lists.

• Explanation:  In the above example the result comes “las” which means the last three characters of A2 by applying the following formula,
• =RIGHT(A2, 3) returns the last 3 characters of A2.
• .Result: Excel 
• Also Read: Full Tutorial on Excel Right Function by upGrad 

35. MID() – Extract Substrings in Excel Formulas

The MID() function in Excel extracts a substring from a text string, starting at a specified position and continuing for a defined number of characters. This versatile tool is essential for precise text manipulation and is a staple in advanced Excel formulas lists.

• Explanation: The formula begins at the 2nd character of A2 (starting from "x" in "MS Excel Formulas").
• It extracts 4 characters, resulting in xcel.
• Result:=MID(A2, 2, 4) returns xcel, which is a substring starting from the 2nd character and spanning 4 characters in total.
• =MID(A2, 2, 4) extracts 4 characters starting from the second character of A2.

36. LEN()  – Count Characters in Excel Cells

The LEN() function in Excel counts the total number of characters in a text string, making it a vital tool for managing and analyzing text data efficiently.

• Explanation: =LEN(A1) returns the total number of characters in A2.
• Result: 14 
• Our learners also read: Learn Excel for free!

37. TRIM() – Clean Extra Spaces with Excel TRIM Formula

The TRIM() function in Excel eliminates all extra spaces from a text string, ensuring only single spaces remain between words for clean and organized data.

Explanation: =TRIM(A1) cleans up text in A2.

38. UPPER() – Convert Text to Uppercase in Excel

The UPPER() function in Excel converts text to uppercase, making it an essential tool in advanced Excel formulas lists for standardizing and formatting text efficiently.

• Explanation: =UPPER(A2) changes text in A2 to all caps.
• Result: EXCEL FORMULAS

39. LOWER()  – Transform Text to Lowercase in Excel

The LOWER() function in Excel converts text to lowercase, making it a useful tool for standardizing text formatting in your spreadsheets and enhancing data consistency.

• Explanation: =LOWER(A2) changes the text in A2 to all lowercase.
• Result: excel formulas

40. PROPER() – Capitalize First Letters in Excel Strings

The PROPER() function in Excel capitalizes the first letter of each word in a text string, making it ideal for standardizing and formatting text consistently.

• Explanation: =PROPER(A2) changes "excel formulas" to "Excel Formulas".
• Result: Excel Formulas 

41. REPT() – Repeat Characters in Excel Formulas

The REPT() function in Excel repeats a given text string a specified number of times, making it useful for creating patterns or emphasizing data in your spreadsheets.

The value to be repeated (e.g., *, Hello, ! in Column A).

• Number of Times: The number of repetitions (e.g., 5, 3, 10).
• Explanation: =REPT("*", 5) returns "*****".

42. SUBSTITUTE() – Replace Text with SUBSTITUTE Formula

The SUBSTITUTE() function in Excel replaces specific text within a string with new text, making it a powerful tool for efficient text editing and data management.

• Explanation: In the above image we substitute “apples” with “oranges” by applying the formula =SUBSTITUTE(A3, "apples", "oranges") replace "apples" with "oranges" in A3.

43. TEXT() – Format Numbers as Text in Excel

The TEXT() function in Excel formats numbers according to a specified format and converts them into text, making it an essential tool for customizing data presentation.

• Explanation: =TEXT(A2, "0.00%") formats A2 as a percentage.
• Result: For =TEXT(A2, "0.00%"):
• If A2 = 0.12345, the formula formats it as a percentage with two decimal places:
  • Result: 12.35%.

44. VALUE() – Convert Text to Numbers in Excel

The VALUE() function in Excel converts text into a numeric value, enabling seamless calculations and efficient data processing in spreadsheets.

• Explanation: The text string containing a number to convert (e.g., "123", "456.78").
• =VALUE(A2) returns 123 as a number.

Did You Know?

An MIS Report in Excel helps businesses track and analyze key metrics like sales, finance, and operations using tools like Pivot Tables, VLOOKUP, and Conditional Formatting. Learn more in this detailed guide on MIS reports.

Excel Date and Time Formulas for Efficient Data Management 

These MS Excel formulas simplify calculations related to dates and times, such as finding the difference between two dates. For more information, you can learn how to split cells in Excel with this tutorial!

45. DATE() – Create Custom Dates Using Excel DATE Formula

The DATE() function in Excel creates a valid date by combining specified year, month, and day values, making it a crucial tool for managing and organizing date-related data.

• Explanation: =DATE(2025, 12, 25) returns December 25, 2025.
• =DATE(A2, B2, C2) combines the values in A2 (year), B2 (month), and C2 (day) into a valid date.

46. TODAY() – Display Current Date Automatically in Excel

The TODAY() function in Excel returns the current date, making it a valuable addition to the advanced Excel formulas list for managing date-related data efficiently.

• Explanation: Simply type =TODAY() into a cell to display the current date.
• Result: 26th November 2024, the current date

47. NOW() – Get Real-Time Date & Time with NOW Formula

The NOW() function in Excel returns the current date and time, making it an essential feature in advanced Excel formula lists for real-time data tracking and time management.

• Explanation: Simply type =NOW() into a cell to display the current date and time.
• Result: 26th November 2024 displays the current date and 11:12 displays the time.

48. DATEDIF() – Calculate Date Differences in Excel

The DATEDIF() function in Excel calculates the difference between two dates, making it a key tool in advanced Excel formulas lists for analyzing date ranges and managing time-based data effectively.

• Explanation: In the above example C2 describes the difference between A2 and B2 which is a difference in the number of days from 1st Jan 2024 to 25th November 2024 by applying the following formula  =DATEDIF(A2, B2, "D") i.e, 329 days 

Learn more about How to Use the DATEDIF Formula with upGrad 

49. NETWORKDAYS() – Count Working Days Between Dates

The NETWORKDAYS() function in Excel calculates the number of working days between two dates, excluding weekends and specified holidays, making it an essential tool for advanced Excel formulas lists focused on project and time management.

• Explanation: In the above example, The NETWORKDAYS() function calculates the number of working days (Monday to Friday) between two dates, excluding weekends and specified holidays
• Formula: =NETWORKDAYS(A2, B2) excludes weekends and holidays where, 
• Start Date: 01-Nov-2024.
• End Date: 30-Nov-2024.
• Holiday: 11-Nov-2024.
• Result: 20 working days.

50. WORKDAY()– Determine Future or Past Workdays in Excel

The WORKDAY() function in Excel returns a date that is a specified number of working days from a starting date, excluding weekends and holidays. It’s an essential tool for managing schedules and deadlines efficiently.

• Explanation: =WORKDAY(A2, B2,$G$2:$G$5) adds 5 working days to the date in A1.

51. EOMONTH() – Find the End Date of Any Month

The EOMONTH() function in Excel returns the last day of a month, calculated by adding a specified number of months to a given start date. This function is ideal for managing timelines and date-based calculations efficiently.

Explanation:

1. =EOMONTH(A2, B2):
   • Start Date: January 15, 2016
   • Months to Add: 1
   • Result: The last day of the following month (January 31, 2016), which is returned as a serial date (42400) and can be formatted as "Jan 31, 2016."
2. =EOMONTH(A3, B3):
   • Start Date: February 10, 2016
   • Months to Add: 2
   • Result: The last day of March 2016 (March 31, 2016), returned as serial date (42460), formatted as "Mar 31, 2016."
3. =EOMONTH(A4, B4):
   • Start Date: March 15, 2016
   • Months to Add: 3
   • Result: The last day of June 2016 (June 30, 2016), returned as serial date (42551), formatted as "Jun 30, 2016."
4. =EOMONTH(A5, B5):
   • Start Date: December 10, 2015
   • Months to Add: 1
   • Result: The last day of December 2015 (December 31, 2015), returned as serial date (42369), formatted as "Dec 31, 2015."
5. =EOMONTH("1/27/2016", 3):
   • Start Date: January 27, 2016
   • Months to Add: 3
   • Result: The last day of April 2016 (April 30, 2016), returned as serial date (42490), formatted as "Apr 30, 2016."

52. DAY() – Extract Day Component from a Date in Excel

The DAY() function in Excel extracts the day from a given date, making it a useful tool in advanced Excel formulas lists for precise date analysis and data organization.

• Explanation: =DAY(A1) returns the day of the date in A1.

53. MONTH() – Return the Month Number from Date Cells

The MONTH() function in Excel extracts the month from a given date, making it an essential feature in advanced Excel formula lists for managing and analyzing date-related data.

• Explanation: =MONTH(A1) returns the month of the date in A1.

54. YEAR()  – Extract Year from Excel Date Entries

The YEAR() function in Excel extracts the year from a given date, making it a vital tool in advanced Excel formulas lists for analyzing and managing date-related data.

• Explanation: The YEAR() function extracts the year from a given date.
• Parameters:
  • A2: Contains the date from which the year is to be extracted.
• Formula Logic:
  • For =YEAR(A2):
    • The function reads the date in A2 and returns the year component.

More Advanced Excel Formulas

These include the latest and most versatile formulas like XLOOKUP, FILTER, and SEQUENCE for dynamic data analysis. If you want to be a pro in Excel Advanced Formula then learn how to insert Average Equation in Excel.

55.  FV – Advanced Excel Formula to Calculate Future Value in Finance

This formula comes in handy if you are looking to invest money in something and to know its worth. The requirements of the FV formula are:

• The interest rate of the loan
• Number of Payments
• The Payment for each period
• Current Starting Balance
• Type of Loan

For example, if you want to compare several blank CDs and you have a $20,000 inheritance to invest in a CD. The interest rates are represented in the decimal format; payments are zero. The formula for the scenario will be:

=FV(A2/12,B2,C2,D2)

The results will be:

56.  RAND BETWEEN – Useful Excel Formula for Random Data Generation
 

RANDBETWEEN is a volatile function, which will alter the values created every time you newly define the formula on the same range. It generates a single random number at a single iteration between a specified range of numbers.

For example, for random numbers between 1 and 6, this function generates only integer random numbers by default.

This function helps to select a number within a predefined range of numbers randomly. Once you put the lowest and the highest numbers in the formula, Excel can choose the right data from the fields to which the names in the Range are attached and randomly pick from them. The method for the scenario is:

=RANDBETWEEN(starting point, ending point)

In this syntax,

Starting point: A required argument that defines the smallest value that the function can return

It’s the lower limit of the range from which the random number will be generated.

This argument is mandatory, and you need to provide a numerical value that represents the minimum value of the range.

 ending point: A required argument that defines the largest value that the function can return

It’s the upper limit of the range within which the random number will be generated.

Similar to the starting point, this argument is also mandatory, and you need to provide a numerical value representing the maximum value of the range.

57. SMALL – Extract the Nth Smallest Value with Excel Statistical Formula

The SMALL function in Excel returns numeric values based on the position of the value in a list which is ranked by importance. This function helps to retrieve the “nth smallest values” from an array or Range of cells like the smallest value, 2nd lowest value, 3rd lowest value, etc.

The syntax for the formula is

=SMALL (times,range)

For example,

As the SMALL function is automatic, you need to supply a range and an integer for ‘nth’ to specify the ranked value. The official names for these arguments are ‘array’ and ‘k’.

Important Points to Remember about SMALL function:

• It ignores text values and only considers numerical values.          
• It returns an error if no numerical values are available in the list.
• In the case of duplicates, the first value is considered the smaller one.
• K must be numeric; else, it returns the error as #VALUE!
• The given range must not be empty.
• When finding only the least value, you can use the MIN Function. It only finds the first smallest value.
• Although SMALL ignores text values, if any errors exist, it returns the result as #DIV/0!
• The SMALL function can be used with several other functions to find the Nth values
• When used with other functions, it works as an array formula

58. IRR() – Complex Excel Formula for Internal Rate of Return (IRR) Calculation

The IRR() function calculates the Internal Rate of Return (IRR) for a series of cash flows that occur at regular intervals. IRR represents the discount rate at which the Net Present Value (NPV) of the cash flows becomes zero. Essentially, it indicates the annualized rate of return an investment is expected to generate over time.

• Explanation: In cell B2, the initial investment is represented by -$1,000, indicating an outflow. From B3 to B5, we have positive cash flows that reflect returns or profits from the investment.
• IRR Calculation:
  The IRR formula determines the discount rate that makes the Net Present Value (NPV) of these cash flows equal to zero. In this case, the IRR is 8.90%, which means the investment is projected to generate an annual return of 8.90%.

59. QUARTILE – Use Quartile Formula for Data Segmentation in Excel

This function returns the quartile (each of four equal groups) in a given set of data and can return the minimum value, first quartile, and second quartile maximum value. This function brings the quartile amount of the fields in an array. The function returns a numerical value according to the requested percentile.

Syntax: =QUARTILE (array, quart)

Uses of QUARTILE function:

This built-in function in Excel falls under the Statistical functions category. It is alternatively known as a Worksheet function in excel. Working as a worksheet function can be used as a part of the formula within a cell of a worksheet.

60. SUBTOTAL() – Apply Conditional Aggregation in Excel Databases

The SUBTOTAL() function returns a subtotal in a list or database. It can perform various calculations, such as SUM, AVERAGE, COUNT, MAX, MIN, etc., on a range of data.

The main advantage of SUBTOTAL() is that it can ignore hidden rows, filtered data, or other SUBTOTAL() results within the range.

Also Read: Data Analysis course with certification for beginners to become a pro in Excel 

How to Use Formulas in Excel

Excel formulas are the backbone of efficient data analysis and management. Applying and editing them effectively can save you time and enhance your productivity. Below are step-by-step instructions on how to use Excel formulas and advanced Excel formulas with examples:

Step 1: Start with the Equals Sign

Every formula in Excel begins with the = symbol. This tells Excel that you're entering a formula.

• Explanation: Type =SUM(A1:A5) to calculate the total of values in cells A1 to A5.

Step 2: Use Cell References

Instead of hardcoding values, use cell references to make formulas dynamic and easy to update.

• Explanation: Enter =A1+B1 to add the values in cells A1 and B1. If these values change, the formula automatically updates.

Step 3: Leverage Built-In Functions

Excel offers a range of built-in functions for calculations, from basic arithmetic to complex data analysis.

• Explanation: Use advanced Excel formulas like =VLOOKUP(101, A1:D10, 2, FALSE) to search for a value in a dataset.

Step 4: Combine Multiple Functions

Combine formulas to perform complex calculations. This is especially useful for nested formulas.

• Explanation: =IF(SUM(A1:A5)>50, "Pass", "Fail") combines the SUM() and IF() functions to evaluate a condition.

Step 5: Edit and Debug Formulas

Click on a cell with a formula to edit it. Use the Formula Bar or press F2 to make changes.

• Tip: Use Ctrl + (backtick) to display all formulas in a sheet for debugging.

Step 6: Use Absolute and Relative References

Understanding cell references is key to writing flexible formulas.

• Relative Reference: =A1+B1 changes when copied to another cell.
• Absolute Reference: Use $ (e.g., =$A$1+$B$1) to lock cell references during copying.

Step 7: Apply Formulas Across Ranges

Drag the fill handle (a small square at the bottom-right corner of a selected cell) to copy formulas across multiple cells.

• Explanation: Enter =SUM(A1:A5) in one cell and drag it down to apply the same formula to other ranges.

Step 8: Handle Errors with IFERROR()

Errors like #DIV/0! can be handled gracefully using IFERROR().

• Explanation: =IFERROR(A1/B1, "Error") returns "Error" if B1 is 0 or empty.

Step 9: Use Advanced Excel Formulas for Dynamic Analysis

Excel offers advanced functions like XLOOKUP() and FILTER() to handle complex tasks.

• Explanation: =FILTER(A1:A10, B1:B10>50) filters values in A1:A10 where B1:B10 is greater than 50.

Step 10: Practice and Experiment

Practice using formulas with real-world data to build confidence and explore the versatility of Excel advanced formulas.

Learn how to move columns in Excel by our tutorial

Parts of an Excel Formula

All the components of an Excel formula are crucial for performing calculations, manipulating data, and generating accurate results. Advanced Excel formulas are the key elements that will help you create dynamic and effective spreadsheets. 

The following are the essential parts of an Excel formula:

1. Functions
Functions are predefined operations in Excel that perform specific tasks, such as calculations, data manipulation, or logical tests. They form the backbone of any Excel formula list.

• Example: =SUM(A1:A5) uses the SUM() function to calculate the total values in the range A1 to A5.

2. Arguments
Arguments are the inputs provided to a function. These can include numbers, text, cell references, or ranges, depending on the requirements of the formula.

• Example: In =AVERAGE(A1:A10), A1:A10 is the argument, specifying the range of cells to calculate the average.

3. Operators
Operators are symbols used to perform arithmetic, comparison, or logical operations. They are integral to both basic and advanced Excel functions.

• Arithmetic Operators: +, -, *, /, ^ (e.g., =A1+A2).
• Comparison Operators: >, <, >=, <=, =, <> (e.g., =A1>B1 returns TRUE if A1 is greater than B1).
• Logical Operators: AND, OR, NOT (e.g., =AND(A1>10, B1<5) checks multiple conditions).

4. Cell References
Cell references specify which cells to use in a formula and can be dynamic or fixed. 

• Relative References: Adjust when a formula is copied (e.g., =A1+B1).
• Absolute References: Fixed with $ (e.g., =$A$1+$B$1).
• Mixed References: Partially fixed (e.g., $A1+B$1).

5. Constants
Constants are fixed values directly included in a formula instead of cell references. They make formulas simpler and more direct.

• Example: In =A1+10, the number 10 is a constant added to the value in cell A1.

6. Parentheses
Parentheses dictate the order of operations in complex formulas, ensuring specific calculations are performed first. They are essential for accuracy in advanced Excel functions.

• Example: =(A1+A2)*B1 calculates the sum of A1 and A2 before multiplying by B1.

7. Text Strings
Text strings are enclosed in double quotes (") and used in formulas for operations involving text. They are particularly useful for advanced Excel formulas lists involving text manipulation.

• Example: =CONCATENATE("Hello ", A1) joins "Hello " with the value in cell A1.

8. Error Handling
Error-handling formulas help manage potential issues, ensuring cleaner outputs and preventing errors from disrupting your work.

Example: =IFERROR(A1/B1, "Error") prevents division errors by displaying "Error" if B1 is 0.

Get more insights on Count Colored Cells in Excel

How upGrad Provides You Excel Courses to Boost Your Skills

Excel is a powerful tool for professionals, and mastering its formulas and functions can significantly enhance your productivity and analytical capabilities. upGrad offers a variety of resources to help you learn both basic and advanced Excel formulas, making it easier to manage data and improve decision-making.

With comprehensive tutorials and courses, upGrad ensures you can leverage Excel for tasks ranging from data analysis to financial modeling. Below are some of the top courses and resources offered by upGrad:

You can quickly remove duplicates in Excel using the built-in Remove Duplicates feature or formulas like UNIQUE() in newer versions.

upGrad’s Top Excel Resources 

Explore more free Excel courses on upGrad to enhance your skills and advance your career.

These resources cater to professionals of all levels, offering step-by-step guidance on mastering both simple and advanced Excel formulas. With upGrad, you can unlock the full potential of Excel and elevate your career!

Read: What is goal seek in Excel?

Conclusion

Now, you too can harness the power of advanced Excel formulas like a pro! From simplifying calculations with SUM and AVERAGE to tackling complex data with XLOOKUP and FILTER, these 60 essential formulas equip you to handle any challenge with confidence. Whether you're managing data, analyzing trends, or automating tasks, you’ve got the tools to work smarter and faster.

Why stop here? Take your skills to the next level with upGrad’s Free Excel Courses and unlock the full potential of Excel in your professional journey!

Master the essentials of Microsoft Excel with our step-by-step tutorial, designed to boost your productivity and data management skills.

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