excel functions research paper

Q. 

In simple terms, an Excel function is a predefined formula that performs calculations using specific values in a particular order (GCF Global, nd). For example, to calculate an average value in Excel, one can create a formula that adds each cell and then divides the total by the number of values.  A more straightforward option is to use AVERAGE in Excel and get the same answer by selecting the cell with values. Using the function AVERAGE, Excel knows to add all the values and divide the total by the number of values.

Other examples of functions include Lookup, Text, and Date functions.  The LOOKUP function is useful when there is a need to look in a single row or column and find a value from the same position in a second row or column (Microsoft, nd).  For example, a supermarket may have a list of all the products they carry and the prices they pay for it.  A manager can use the LOOKUP function to find an item’s price in the list and how much it cost the store.  Other variations of these functions include the VLOOKUP, HLOOKUP, and LOOKUP (Excel 360). The TEXT function allows users to change how a number appears by applying formatting to it with format codes.  For example, using TEXT, a user can add text to a number to clarify the meaning or ensure all the numbers have the same format.  For instance, a manager may use the TEXT function to indicate that apples’ price is either “$1.00 per lb” or “$1.00 ea”.  Finally, the DATE function allows users to take three separate values and combine them to form a date.  For example, a manager can use the DATE function to indicate the expiration date of a product.  For instance, if the shelf life of coffee is four weeks, a manager can use the DATE function to determine the exact date.  These are only three examples of functions. In reality, Excel 2019 has more than 450 functions built-in (Sharma, 2019).  It is a good thing we do not have to memorize all of them.

References

GCF Global. (nd). Excel 2016 – Functions. https://edu.gcfglobal.org/en/excel2016/functions/1/

Microsoft. (nd). LOOKUP function. https://support.microsoft.com/en-us/office/lookup-function-446d94af-663b-451d-8251-369d5e3864cb

Microsoft. (nd). TEXT function. https://support.microsoft.com/en-us/office/text-function-20d5ac4d-7b94-49fd-bb38-93d29371225c

Microsoft. (nd). DATE function. https://support.microsoft.com/en-us/office/date-function-e36c0c8c-4104-49da-ab83-82328b832349

Sharma, A. (2019). 6 New Functions In Excel 2019 And Office 365 You Must Learn. https://www.howtoexcel.org/functions/must-learn-excel-functions/#:~:text=Apart%20from%20these%2C%20there%20are,to%20learn%20all%20the%2

Q2.

As I have learned by using excel and throughout the program that excel functions are formulas that will calculate based on the specifics of the value you are trying to achieve. The purpose I learned is that it makes the workload a lot easier for the user by splitting the data into two different parts the name of the function and the argument you are trying to receive. The argument is simply the value you need to make the problem work or what value you need to specify.

Lookup

I will like to keep this simple; the lookup function makes the searchable data simplified. Businesses can use the value to search for matching items and get an accurate result of how many items are a match. This argument can make the return data give you fewer data to satisfy the business task with less and more efficient data. VLOOKUP can find a large amount of information in the data tables and use low memory to see that data.

Text

Text to columns is in the data tab, and businesses can use this function to apply formatting to one or more cells based on the values you are searching. My example is sales revenue and separated by the month. If the business did not achieve above the average sale, the formatting in the text could change the color to be more visible to the reviewer.

Data Functions

The data functions can be used to combine several cells or data altogether. I believe that you can use data function to drive revenue and maximizing the profits of a business. I heard that data functions are a way to identify why a company is experiencing losses compared to similar companies.

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