EXCEL GUIDE

Basic Terms in Excel

There are two basic ways to perform calculations in Excel: Formulas and Functions.

1. Formulas

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

2. Functions

Functions are predefined formulas in Excel. They eliminate laborious manual entry of formulas while giving them
human-friendly names. For example: =SUM(A1:A3). The function sums all the values from A1 to A3.

Five Time-saving Ways to Insert Data into Excel

1. Simple insertion: Typing a formula inside the cell

Typing a formula in a cell or the formula bar is the most straightforward method of inserting basic Excel formulas. The
process usually starts by typing an equal sign, followed by the name of an Excel function.

when you start typing the name of the function, a pop-up function hint will show (see below). It’s from this list you’ll
select your preference. However, don’t press the Enter key after making your selection. Instead, press the Tab key
and Excel will automatically fill in the function name.

2. Using Insert Function Option from Formulas Tab

If you want full control of your function’s insertion, using the Excel Insert Function dialogue box is all you ever need.
To achieve this, go to the Formulas tab and select the first menu labeled Insert Function. The dialogue box will
contain all the functions you need to complete your financial analysis.

3. Selecting a Formula from One of the Groups in Formula Tab

This option is for those who want to used mostly used functions quickly. To find this menu, navigate to the Formulas
tab and select your preferred group. Click to show a sub-menu filled with a list of functions.

From there, you can select your preference. However, if you find your preferred group is not on the tab, click on the
More Functions option – it’s probably just hidden there.
4. Using AutoSum Option

For quick and everyday tasks, the AutoSum function is your go-to option. Navigate to the Formulas tab and click the
AutoSum option. Then click the caret to show other hidden formulas. This option is also available in the Home tab.
5. Quick Insert: Use Recently Used Tabs

If you find re-typing your most recent formula a monotonous task, then use the Recently Used selection. It’s on the
Formulas tab, a third menu option just next to AutoSum.

1. SUM

The SUM function is the first must-know formula in Excel. It usually aggregates values from a selection of columns or
rows from your selected range.

=SUM(number1, [number2], …)

Example:

=SUM(B2:G2) – A simple selection that sums the values of a row.

=SUM(A2:A8) – A simple selection that sums the values of a column.

=SUM(A2:A7, A9, A12:A15) – A sophisticated collection that sums values from range A2 to A7, skips A8, adds A9,
jumps A10 and A11, then finally adds from A12 to A15.

=SUM(A2:A8)/20 – Shows you can also turn your function into a formula.
2. AVERAGE

The AVERAGE function should remind you of simple averages of data, such as the average number of shareholders in
a given shareholding pool.

=AVERAGE(number1, [number2], …)

Example:

=AVERAGE(B2:B11) – Shows a simple average, also similar to (SUM(B2:B11)/10)

3. COUNT

The COUNT function counts all cells in a given range that contain only numeric values.

=COUNT(value1, [value2], …)

Example:

COUNT(A:A) – Counts all values that are numerical in A column. However, you must adjust the range inside the
formula to count rows.
COUNT(A1:C1) – Now it can count rows.

4. COUNTA

Like the COUNT function, COUNTA counts all cells in a given rage. However, it counts all cells regardless of type. That
is, unlike COUNT that only counts numerics, it also counts dates, times, strings, logical values, errors, empty string, or
text.

=COUNTA(value1, [value2], …)

Example:

COUNTA(C2:C13) – Counts rows 2 to 13 in column C regardless of type. However, like COUNT, you can’t use the same
formula to count rows. You must make an adjustment to the selection inside the brackets – for
example, COUNTA(C2:H2) will count columns C to H

5. IF

The IF function is often used when you want to sort your data according to a given logic. The best part of the IF
formula is that you can embed formulas and functions in it.
=IF(logical_test, [value_if_true], [value_if_false])

Example:

=IF(C2<D3,“TRUE”,”FALSE”) – Checks if the value at C3 is less than the value at D3. If the logic is true, let the cell
value be TRUE, otherwise, FALSE

=IF(SUM(C1:C10) > SUM(D1:D10), SUM(C1:C10), SUM(D1:D10)) – An example of a complex IF statement. First, it

sums C1 to C10 and D1 to D10, then it compares the sum. If the sum of C1 to C10 is greater than the sum of D1 to
D10, then it makes the value of a cell equal to the sum of C1 to C10.

6. TRIM

The TRIM function makes sure your functions do not return errors due to extra spaces in your data. It ensures that all
empty spaces are eliminated. Unlike other functions that can operate on a range of cells, TRIM only operates on a
single cell. Therefore, it comes with the downside of adding duplicated data to your spreadsheet.

=TRIM(text) Example:

TRIM(A2) – Removes empty spaces in the value in cell A2.

7. MAX & MIN

The MAX and MIN functions help in finding the maximum number and the minimum number in a range of values.

=MIN(number1, [number2], …)

Example:

=MIN(B2:C11) – Finds the minimum number between column B from B2 and column C from C2 to row 11 in both
columns B and C.

=MAX(number1, [number2], …)

Example:

=MAX(B2:C11) – Similarly, it finds the maximum number between column B from B2 and column C from C2 to row 11
in both columns B and C.
What is VLOOKUP in Excel?
VLOOKUP stands for Vertical Lookup. As the name specifies, VLOOKUP is a built-in Excel function that helps you look
for a specified value by searching for it vertically across the sheet. VLOOKUP in Excel may sound complicated, but you
will find out that it is a very easy and useful tool once you try it. Look at the example below to understand VLOOKUP.

The VLOOKUP formula below looks for a Company name with Company ID 3.

How To Find an Exact Match Using VLOOKUP?

VLOOKUP makes it effortless to look for an exact match from the table. Let’s take a look at how to do this with the
help of an example:

• In the example below, we are using the VLOOKUP function to find the value of the exact match of ID from the
given table. So, we set the first parameter as the lookup value, which is the cell H5.

• We specify the location of the table in the second argument. As you can see, the table location is A2:F11.

• The third argument specifies the Column Index number. This tells us what value should be returned from the
row that we are looking up for. In the example, the product column is 3.

• The last argument is a Boolean Expression. Here, the value is set to FALSE for the VLOOKUP function to return
an exact match for the value. An N/A error is displayed in case the exact value is not found.
With the help of VLOOKUP in Excel, we can look for an approximate match as well. You will learn this in the next
section.

How To Find Approximate Match Using VLOOKUP?

Approximate Match works by finding the next largest value that is lesser than the lookup value, which we specify.

In the example below, we use the VLOOKUP function to find out how much RAM specification a laptop priced 1300
EUR has. Also, we know this value is not present in the table. So, let's use the Approximate Match to find the
solution. We need to sort the first column in ascending order. If not, VLOOKUP will return incorrect values.

• First, copy the price and RAM details to a new location, and specify your lookup value. Here, the lookup value
is $1300.

Next, select your data range and click on the filter option to sort the values of the first column based on ascending
order. After you click on the filter option, you will see the filter buttons enabled on your column headers.

• Filter the price details in ascending order. Click on OK.

• Now, enter your VLOOKUP formula. The first argument will be the VLOOKUP value. The second argument
specifies the table range. In the third argument, we give the column number, so that values for that column
are returned. Finally, the last argument is set to TRUE. This will allow the VLOOKUP function to find an
approximate match for the value.
 • After entering the formula, press enter. The value returned, in this case, is 8GB for the price of $1300.

How to Use VLOOKUP for Multiple Criteria?

With a helper column, you can give multiple criteria that the VLOOKUP genetically cannot handle. In our example, we
will be calculating the price based on both company and product.

For example, if we have to look up the price of an Apple MacBook Pro, where the company name and product name
are in two different columns, we use a helper column. This column will store the concatenated values of both
columns.

Follow the steps below to perform VLOOKUP with multiple criteria.

• First, right-click on a column header and click on Insert. This will help you insert a column to the left of the
Company column. Name it as ‘Company & Product’.
• On creating the helper column, enter the formula =C2&”-”&D2. Then, drag the formula down to the rest of
the cells in the column.

• On creating the concatenated column successfully, we can now look for the value. Here, we look for the price
of an Apple MacBook Pro.

• So, we enter the formula =VLOOKUP(B15&”-”&C15,B1:G11,5,FALSE)

• The first parameter helps to concatenate the lookup value, i.e., B15&"-" &C15. We can also use the
concatenate formula, i.e., CONCATENATE(B15,"-",C15). The second parameter is the table range. The third
parameter specifies the column index, which returns a value from that column. The final parameter is FALSE,
as we are looking for an Exact Match. On pressing enter, the price will be returned as follows.
Frequency
=FREQUENCY(data_array, bins_array)

The FREQUENCY function uses the following arguments:

1. Data_arrays (It is a required argument) – This is an array or reference to a set of values for which you want to
count frequencies.

2. Bins_array (It is a required argument) – This is an array of intervals (“bins”) for grouping values.

Remember that:

1. If data_array contains no values, FREQUENCY returns an array of zeros.

2. If bins_array contains no values, FREQUENCY returns the number of elements in data_array.

To create a frequency distribution using FREQUENCY:

• We need to enter numbers that represent the bins we want to group values into.

• Make a selection the same size as the range that contains bins, or greater by one, if we want to include the
extra item.

• Enter the FREQUENCY function as an array formula using Control+Shift+Enter.

How to use the FREQUENCY Function in Excel?

As a worksheet function, FREQUENCY can be entered as part of a formula in a cell of a worksheet. To understand the
uses of the function, let us consider a few examples:

Example 1

Suppose we are a toy manufacturing company. We can use the FREQUENCY function to count the number of children
falling into three different age ranges, which are specified by the bins_array (stored in cells B2-B3 of the
spreadsheet).
In the table above, the bins_array values specify the maximum values for the age ranges. Therefore, in this example,
the ages are to be split into the ranges 0-4 years, 5-8 years and 9 years+.

We will enter the formula below:

FREQUENCY would be entered as an array formula after we select a range of adjacent cells into which we want the
returned distribution to appear.

We used CTRL+SHIFT+ENTER to get curly brackets for array formulas. The results we get are shown below:
Example 2

We can use the FREQUENCY function to count unique values in a range with some criteria. Suppose we are given a
list of employees who participated in an activity, along with the time expended on the activity.

Looking at the data below, we can see that the same employee names appear more than once, so what we want is a
count of unique names.
The formula we will use is:

=SUM(–(FREQUENCY(IF(B2:B10=F1,MATCH(A2:A10,A2:A10,0)),ROW(A2:A10)-ROW(A2)+1)>0))-:

Use CTRL+SHIFT+ENTER to get curly brackets for array formulas. We will get the result below:

Create a Chart
To create a line chart, execute the following steps.

1. Select the range A1:D7.

2. On the Insert tab, in the Charts group, click the Line symbol.

3. Click Line with Markers.

Result:

Note: enter a title by clicking on Chart Title. For example, Wildlife Population.

Change Chart Type

You can easily change to a different type of chart at any time.

1. Select the chart.

2. On the Chart Design tab, in the Type group, click Change Chart Type.

3. On the left side, click Column.

4. Click OK.

Result:

Switch Row/Column
If you want to display the animals (instead of the months) on the horizontal axis, execute the following steps.

1. Select the chart.

2. On the Chart Design tab, in the Data group, click Switch Row/Column.

Result:

Legend Position
To move the legend to the right side of the chart, execute the following steps.

1. Select the chart.

2. Click the + button on the right side of the chart, click the arrow next to Legend and click Right.

Result:

Data Labels
You can use data labels to focus your readers' attention on a single data series or data point.

1. Select the chart.

2. Click a green bar to select the Jun data series.

3. Hold down CTRL and use your arrow keys to select the population of Dolphins in June (tiny green bar).

4. Click the + button on the right side of the chart and click the check box next to Data Labels.
Result: