Excel Advanced Formulas & Functions

Building complex formulas – Nested functions best practice

When working with nested functions in MS Excel, it’s important to follow best practices to ensure your formulas are efficient,
readable, and maintainable. Here are some tips for using nested functions effectively:
Limit the Nesting Levels: Try to keep the nesting to as few levels as possible. Excel allows up to 64 levels of nested functions,
but it’s best to use far fewer to maintain clarity.
Use Alternative Functions: Consider using functions like IFS, XLOOKUP, CHOOSE, or SWITCH as they can often replace
complex nested IF statements1.
Start Simple: Begin with the most basic part of your formula and build outwards, ensuring each function works correctly
before adding another layer.
Parentheses Matching: Make sure every opening parenthesis has a corresponding closing parenthesis to avoid errors.
Test Your Formulas: Always test your formulas with different inputs to ensure they work as expected in all scenarios.
Readability: Structure your formulas in a way that they are easy to read and understand. This might involve aligning the
formula across multiple lines or adding comments to explain the logic.
Avoid Repetition: If you find yourself repeating the same calculation multiple times within a nested formula, consider using a
helper column to perform the calculation once and then reference that result in your formula.
Document Your Work: Especially with complex nested functions, document your logic and the purpose of the formula for
future reference or for others who may work with your spreadsheet

IF
In MS Excel, nested functions are executed from the inside out. This means
AND
that the most deeply nested function, which is the one inside all the others,
is calculated first. Then, Excel works its way outward, calculating each
OR
surrounding function using the result of the inner function as its argument.

=IF(AND(C14>20000,OR(B14="west",B14="north")),$F$7,$F$8)

Statistical and forecasting functions

LARGE(array, k): This function returns the k-th largest value in a data set. For example,
LARGE(A1:A10, 2) would give you the second-largest value in the range A1:A10.
SMALL(array, k): Similar to LARGE, but this function returns the k-th smallest value. So,
SMALL(A1:A10, 2) would give you the second-smallest value.
ROUND(number, num_digits): This function rounds a number to a specified number of
digits. For instance, ROUND(2.567, 2) would result in 2.57.
CORREL(array1, array2): It calculates the correlation coefficient between two data sets,
which is a measure of the linear relationship between them. The result is between -1
and 1, where 1 indicates a perfect positive correlation and -1 indicates a perfect
negative correlation.
SLOPE(known_y’s, known_x’s): This function returns the slope of the linear regression line through data points in
known_y’s and known_x’s. It essentially tells you how much y changes for a unit change in x.
FORECAST.LINEAR(x, known_y’s, known_x’s): Predicts a future value along a linear trend line fitted to the known y’s and
known x’s. It’s the new version of the older FORECAST function and is used for linear regression forecasting12.
FORECAST.ETS(target_date, values, timeline): Stands for Exponential Triple Smoothing. It predicts or forecasts a future
value using existing values with advanced machine learning algorithms, considering seasonality and trends in the data3.
These functions are incredibly useful for statistical analysis, financial forecasting, and data analysis tasks in Excel.
Date, Time & Text Functions
Excel Advanced
Date and Time Functions: Formulas & Functions
WORKDAY: Returns the date before or after a specified number of workdays,
excluding weekends and any dates identified as holidays. For example,
=WORKDAY(A2, 10) would give you the date 10 workdays after the date in
cell A21.
DATEDIF: Calculates the difference between two dates based on the specified
unit (days, months, years). For instance, =DATEDIF(A2, B2, "d") calculates the number of days between the dates in A2 and
B2.
EDATE: Returns the date that is a specified number of months before or after a start date. For example, =EDATE(A2, 1) gives
you the date one month after A2.
WEEKNUM: Gives you the week number of a specific date. For example, =WEEKNUM(A2) returns the week number for the
date in cell A22.
Text Functions:
UPPER: Converts text to uppercase, =UPPER(A2) changes the text in A2 to all upper case.
PROPER: Converts text to title case, =PROPER(A2) capitalizes the first letter of each word in A2.
FIND & SEARCH: Both return the position of a substring within a string. FIND is case-sensitive, while SEARCH is not. For
example, =FIND("M", A2) finds the position of ‘M’ in A2.
MID: Returns a specific number of characters from a text string, starting at the position you specify. For example, =MID(A2, 2,
3) gets 3 characters from A2 starting at the second character.
LEFT & RIGHT: Return the first or last set of characters from a text string. =LEFT(A2, 3) gets the first 3 characters from A2,
=RIGHT(A2, 3) gets the last 3.
LEN: Returns the number of characters in a text string, =LEN(A2) gives the length of the string in A2.
TRIM: Removes all spaces from text except for single spaces between words, =TRIM(A2) cleans up the spacing in A2.
Joining Text Functions:
TEXTJOIN: Joins text items using a delimiter. For example, =TEXTJOIN(", ", TRUE, A2:A4) joins the text in A2 to A4, separated
by commas.
CONCAT: Similar to TEXTJOIN but without a delimiter. =CONCAT(A2, B2) combines the text in A2 and B2.
These functions can greatly enhance your data manipulation capabilities in Excel, allowing for efficient and dynamic
spreadsheet management.
Using the Concatenate Function in Excel Introduction to Array formulas
TREND: This function is used to calculate a linear trend line through a given
set of dependent y-values and, optionally, a set of independent x-values.
It can also extend the trend line into the future to project y-values for a new
set of x-values. The syntax is TREND(known_y's, [known_x's], [new_x's],
[const]). The TREND function uses the least squares method to find the line
that best fits your data.
GROWTH: The GROWTH function is similar to TREND but is used for
exponential trend lines. It calculates predicted exponential growth by using
existing data. The syntax is GROWTH(known_y's, [known_x's], [new_x's], [const]).
It’s particularly useful when you have data that increases at a certain rate.
FREQUENCY: This function calculates how often values occur within a range of
values, known as bins. It’s a statistical tool that returns a vertical array of
numbers. The syntax is FREQUENCY(data_array, bins_array), where data_array
is the array or range of data values you want to analyze, and bins_array outlines
the intervals for counting frequencies.
These functions are powerful tools for statistical analysis and forecasting in
Excel, allowing you to understand trends and patterns in your data.
Excel – Linear Estimations for Better Decision Making
Excel Advanced Formulas & Functions
UNIQUE: This function returns a list of unique values from a range or array. It’s useful for removing duplicates and can be
used to extract a list of distinct values from a column or row.
SPILL: This is not a function but a behavior in Excel. When a formula results in multiple values, Excel will “spill” these values
into neighboring cells. This is associated with dynamic array formulas, which automatically fill adjacent cells with output values.
SORT: This function sorts the contents of a range or array in ascending or descending order. It’s part of the dynamic array
functions introduced in Excel 365 and can sort text, numbers, and dates.
SORTBY: The SORTBY function sorts a range or array based on the values in a corresponding range or array. It allows for
multiple levels of sorting and is also a dynamic array function that spills results into adjacent cells.
FILTER: This function filters a range of data based on criteria you specify. It returns only the rows or columns that meet the
criteria, and like the other functions mentioned, it’s a dynamic array function that spills results.
These functions are powerful tools for managing and analyzing data, and they’re especially useful when dealing with large
datasets where manual sorting and filtering would be impractical.
Streamline Data Analysis with Excel Dynamic Arrays Feature
Be more productive with Excel’s UNIQUE function
Be More Productive With Excel’s SORT function
Creating bespoke array formulas in Excel 365 can be quite powerful
for performing complex calculations or processing large amounts of
data. Here’s a step-by-step guide to help you get started:

Understand the Basics: An array formula is designed to work with a

series of data values (an array) rather than a single value. It can
perform multiple calculations on one or more items in an array and
return either multiple results or a single result1.
Use Dynamic Arrays: With the introduction of dynamic arrays in Excel
365, you no longer need to press Ctrl+Shift+Enter to create an array
formula. Instead, you simply enter the formula and press Enter. If the
formula is designed to return multiple results, it will automatically spill
over into adjacent cells.
Leverage New Functions: Excel 365 includes new dynamic array functions like UNIQUE, SORT, RANDARRAY, SEQUENCE, and
TEXTSPLIT. These functions can help you manipulate data, create reports, and perform statistical analysis.
Create Multi-Cell and Single-Cell Arrays: You can create formulas that return results in multiple cells (multi-cell arrays) or a
single cell (single-cell arrays). For example, to sum every nth value in a range, you could use a formula like:
=SUM(IF(MOD(ROW(A1:A10)-ROW(A1)+1, n)=0, A1:A10))
This formula would sum every nth value in the range A1:A10.
Work with Array Constants: You can also create array constants within your formulas by using curly braces {}. For example,
{1,2,3} is a one-dimensional array constant1.
Handle Errors: When working with array formulas, you might encounter #SPILL! errors if there isn’t enough space for the
data to spill over. Ensure that adjacent cells are empty to avoid this issue.
Explore Advanced Techniques: As you become more comfortable with array formulas, you can explore advanced techniques
like cascading formulas, supporting functions, and using # references with the union operator to solve complex problems.
Remember, array formulas are a broad topic, and these steps provide a starting point.
Advanced Lookup & Reference
XLOOKUP and XMATCH are two powerful functions introduced in Excel to enhance the capabilities of lookup operations.
XLOOKUP Function
The XLOOKUP function is designed to search for a value in a range or array and return the corresponding
item from a second range or array. Here’s the syntax for XLOOKUP:
=XLOOKUP(lookup_value,lookup_array,return_array,[if_not_found],[match_mode],[search_mode])
lookup_value: The value you want to search for.
lookup_array: The array or range containing the value to look up.
return_array: The array or range from which to return a value.
if_not_found (optional): The value to return if no match is found.
match_mode (optional): Specifies the match type (0 for exact match, -1 for exact match or next smaller item, 1 for exact
match or next larger item, 2 for wildcard match).
search_mode (optional): Specifies the search mode (1 for search from first, -1 for search from last, 2 for binary search
ascending, -2 for binary search descending).
Excel – The XLOOKUP function
Excel Advanced Formulas & Functions
XMATCH Function
The XMATCH function is used to search for a specified item in an array or range of cells and then returns
the relative position of that item. Here’s the syntax for XMATCH:
=XMATCH(lookup_value,lookup_array,[match_mode],[search_mode])
lookup_value: The value you want to search for.
lookup_array: The array or range containing the value to look up.
match_mode (optional): Specifies the match type (same options as XLOOKUP).
search_mode (optional): Specifies the search mode (same options as XLOOKUP).
These functions are more flexible and powerful than their predecessors like VLOOKUP and HLOOKUP because they
allow for both vertical and horizontal lookups and can return an array of items. They also provide additional control over
what happens when a match is not found and how the search is conducted within the data

ADDRESS: This function returns a cell reference as a text string. The

syntax is
ADDRESS(row_num, column_num, [abs_num], [a1], [sheet_text]).
For example, ADDRESS(1, 2) would return $B$1 as it refers to the cell
at the first row and second column.
INDIRECT: This function returns the reference specified by a text string.
This means you can use INDIRECT to create a reference that won’t
change when copied to another cell.
The syntax is
INDIRECT(ref_text, [a1]).
For instance, if cell A1 contains the text B1, INDIRECT(A1) would
return the value in cell B11.
OFFSET: This function returns a reference to a range that is a certain
number of rows and columns from a specific cell or range of cells.
The syntax is
OFFSET(reference, rows, cols, [height], [width]).
For example, OFFSET(A1, 1, 1) would refer to the cell that is one row
down and one column to the right of cell A12.
CHOOSE: This function returns a value from a list using a given position
or index. The syntax is CHOOSE(index_num, value1, [value2], ...).
For example, CHOOSE(2, "Apples", "Bananas", "Cherries") would return
Bananas because it is the second value in the list.
These functions can be very powerful in Excel, especially when
combined to create dynamic and flexible spreadsheet models.

Auditing formulas
MS Excel’s auditing formulas are a set of tools designed to help you understand, analyze, and debug formulas in your
spreadsheets. Here’s a brief overview of the key auditing tools:

Trace Precedents: This tool shows you all the cells that directly supply data to a selected cell’s formula. It helps you see
where the formula’s input comes from by drawing arrows from the input cells to the formula cell1.
Trace Dependents: Opposite to Trace Precedents, Trace Dependents identifies all the cells that depend on the value
of the selected cell. It’s useful for understanding the impact of the selected cell on other parts of the spreadsheet.
Show Formulas: Instead of displaying the results of the formulas, this option shows the actual formulas within the cells.
This is particularly helpful when you want to review or edit the formulas directly.
Error Checking: Excel’s error checking tool helps you find and correct common errors in your formulas, such as division
by zero, reference errors, or incorrect arguments.
Evaluate Formula: This tool allows you to step through a formula’s calculation sequence one step at a time. It’s a powerful
way to debug complex formulas by evaluating each part individually.
Remove Arrows: After using Trace Precedents or Trace Dependents, you can remove the arrows from the spreadsheet
with this option to declutter your view.
These tools are found on the Formulas tab, in the Formula Auditing group. They are instrumental in ensuring the
accuracy and integrity of your data by providing a clear visual representation of the relationships between cells and formulas.

Use the Error checker tool in Excel

Excel Advanced Formulas & Functions
In Microsoft Excel, the IS information functions are a set of functions
that allow you to check the type or quality of a value and return
TRUE or FALSE accordingly. They are particularly useful for error
checking and handling in formulas.

Here’s a brief explanation of the functions you mentioned:

ISERR(value): This function checks if the value is an error except

for #N/A. It returns TRUE if there is any error value except #N/A,
otherwise FALSE.

ISERROR(value): Similar to ISERR, but it checks for all error types,

including #N/A. It returns TRUE if the value is any error value
(#N/A, #VALUE!, #REF!, #DIV/0!, #NUM!, #NAME?, or #NULL!),
otherwise FALSE.

IFERROR(value, value_if_error): This function allows you to specify

an action to take if an error is found. If value is an error, it returns
value_if_error; otherwise, it returns the value. This is useful for
avoiding error values in your output and providing an alternative
result or message.

For example, you could use IFERROR in conjunction with ISERROR

like this:

=IF(ISERROR(A1), "Error in calculation", A1*2)

This formula checks cell A1 for an error. If an error is found, it

displays “Error in calculation”. If there’s no error, it doubles the
value in A1.

Remember, these functions do not convert the value arguments.

For instance, if you use ISNUMBER("19"), it will return FALSE
because “19” is text, not a number

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