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10 Useful Excel Functions That Speed Up Spreadsheet Work

An overview of the most useful Excel formulas — SUM, COUNT, AVERAGE, IF, VLOOKUP, CONCATENATE, MAX/MIN, PROPER, AND — plus bonus shortcuts for faster productivity.

FP Finance Plus 25 March 2021

If you are looking for Excel formulas that will help you speed up spreadsheet work, this article is for you. We have put together the 10 most useful Excel formulas — from beginner to expert level.

Excel is a valuable tool because it can automatically carry out many mathematical tasks. You are probably familiar with basic formulas such as SUM and AVERAGE, but we have also prepared a few more advanced ones.

1. SUM — sum of values

Lets you add up any number of columns or rows by simply selecting them. You can change the values of the cells — the sum updates automatically.

Example: =SUM(A1:A8)

2. COUNT — number of cells containing numbers

Counts the cells in a range that contain a numeric value.

Example: =COUNT(A1:A8)

3. AVERAGE — arithmetic mean

Does exactly what the name suggests — it takes the average of the numbers you have entered.

Example: =AVERAGE(A1:A8)

4. IF — conditional logic

Lets you flag text or a value depending on whether a condition is true or false.

Examples:

=IF(A1>A2, "GOOD", "BAD")
=IF(C2>B2, "Over Budget", "Within Budget")

5. VLOOKUP — vertical lookup

“Vertical lookup” searches for a particular value in a column (table array) in order to return a value from another column in the same row.

Example: =VLOOKUP(lookup_value, range, column_number, FALSE)

6. CONCATENATE — joining text

Besides sounding great when spoken out loud, it lets you combine data from multiple cells into one. "" is used for a space between values.

Example: =CONCATENATE(A1, " ", B2)

7. MAX and MIN — largest and smallest value

Very simple — type in a range of numbers and Excel returns the maximum or minimum value.

Example: =MAX(A1:A10) or =MIN(A1:A10)

8. PROPER — correct text formatting

Useful when the dataset contains oddly formatted text — for example, with capital letters in the wrong places. If A1 contains “intErestIng EnginEEring is greaT”, PROPER turns it into “Interesting Engineering Is Great”.

Example: =PROPER(A1)

9. AND — logical check of multiple conditions

Shows whether a combination of conditions is TRUE or FALSE. You can check more than two conditions by adding commas.

Example: =AND(A1="GOOD", B2>10)

10. Bonus — F11 (quick chart)

F11 is a quick way to create a new chart without navigating Excel’s ribbons. Select the data, press F11 — and the chart appears automatically.

Most common shortcuts

FunctionShortcut
Close WorkbookCtrl+W
Open WorkbookCtrl+O
Back to Home tabAlt+H
Save WorkbookCtrl+S
CopyCtrl+C
PasteCtrl+V
Undo one stepCtrl+Z
Delete cellDelete
Choose cell colourAlt+H, H

Pro tip

When you want to see which cells a formula references — click the cell containing the formula and press F2.

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