Like a worker without his tools, Excel would be the same without formulas. Indeed, they represent the very foundation of all the utilities that we recognize in this data processing software. Considering the significant number of formulas available in Excel for performing various operations, it is agreed that some functions are used more commonly than others. This is quite true, although all Excel formulas are equally useful. There are some whose frequency of use is quite pronounced. Here are five essential commonly used Excel functions.
Calculation Functions
No one can tell you otherwise. These are the most used formulas in Excel. It makes sense since these formulas are used for basic operations performed in mathematics.
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Thus, we can start with the SUM function. It simply allows you to calculate the sum of the values specified as arguments.
Similarly, the PRODUCT function is used to perform the multiplication of the elements specified as arguments.
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You will find a brief overview of the use of these formulas in the Excel software. However, there are websites like apprendreexcel.com that help you master the implementation of these formulas. You can refer to this Excel website to understand, through practical examples it provides, how to accurately use Excel formulas, both basic and advanced.
Note that besides addition and multiplication, there is no built-in function in Excel that handles subtraction or division. These operations can be performed using standard operators (– ; /)
The AVERAGE Function
Popular as a function, it is used to calculate the arithmetic mean of several values.
The MIN, MAX, and RANK Functions
The MIN and MAX functions simply determine the minimum or maximum value of a series of numbers. In practice, if you have, for example, a series consisting of the first fifty natural non-zero integers, the MIN formula will return the value “1” and the MAX formula will return the value “50”.
As for the RANK formula, as you might already guess, it is used to rank values within a series. By default, you will get a ranking in descending order.
Number Rounding Functions
Very simple to use, there are three main forms: ROUND; ROUNDUP; ROUNDDOWN.
These functions are used respectively to round the value by default (according to the 5/4 rule); to round up or to round down.
This function is often useful in commercial calculations such as for a VAT declaration where it will be necessary to round down.
Logical Functions
The most commonly used logical functions are AND; OR and IF
The AND function allows you to test multiple functions while checking if they are all true.
The OR function returns the value TRUE when the conditions are met.
The IF function, known as conditional, allows you to test a condition to return a certain value if true and another if false.