Excel Formulas for Effective Data Analysis

To unlock the full potential of your Excel reports, mastering key formulas like VLOOKUP, XLOOKUP, INDEX/MATCH, and FILTER is essential. Let’s dive into these powerful tools that can elevate your data analysis.

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INDEX/MATCH (More Flexible Lookup)

What does INDEX/MATCH do?

This combination is more powerful than VLOOKUP because it allows you to search in any direction.

Example Scenario

Find the price for Product ID 102:

=INDEX(C2:C4, MATCH(102, A2:A4, 0))

Step-by-Step Guide

1️⃣ MATCH(102, A2:A4, 0) → Finds the row position of 102.
2️⃣ INDEX(C2:C4, row number) → Retrieves the price from column C.
3️⃣ The result will be $450.

Why use INDEX/MATCH instead of VLOOKUP?

✅ Can look up values in any direction.
✅ More efficient for large datasets.
✅ Doesn’t break if you insert new columns.

Common Mistakes

❌ Forgetting to use 0 in MATCH() for exact matches.
❌ Using an incorrect range for INDEX().