Logical functions are algorithms used in spreadsheets like Excel to determine whether a given situation or event is true or false. Based on the results obtained from this test, a data analyst can then choose to perform one function or another. Using these decisions, they can carry out various calculations, display information, or perform other tests. Examples of logical functions in Excel include AND, XOR, OR, and NOT.
Data validation is an important feature in Excel for controlling what type of data users can input into a cell. By default, it displays a message next to the cell telling the user what is allowed and what is not. This feature can also stop users from entering invalid data. Data validation is implemented through special rules elaborated in Excel’s user interface and enables one to enter values that meet the requirements of the spreadsheet.
Conditional formatting is a feature provided by Excel to help users apply automatic formatting to one or multiple cells. It comes as an extensive library of preset conditions that one can apply directly, or one can just create their own formatting rules using the formulas provided by Excel. With this feature, one can highlight a given set of cells with a certain color to emphasize the information stored in those cells.
Lookup functions perform match lookups in rows and columns and return the matching value from the rows being compared. The lookup function is a handy feature in financial analysis. One can use the standard LOOKUP function or implement the more advanced versions of the same, VLOOKUP and HLOOKUP, to perform complex financial data analysis.
A pivot table is a comprehensive summary of data presented in charts to help researchers explore and report trends in the data. It is one of the most useful features in MS Excel, allowing users to convert rows into columns and vice versa and group columns efficiently. Pivot tables are a robust feature for extracting important information from a large, in-depth set of data.
Array functions are algorithms used to perform more than two calculations on multiple items in an array. An array in Excel can be perceived as a set of rows and columns or a single row or column of defined values. What this means is that an array function can return either a single result or multiple results.
A chart is a tool provided by Excel to help users present and communicate data and information graphically. It enables the person to view the data to see more than just numbers and compare trends and patterns more easily. To chart data in Excel, select the data that you wish to present in a chart, click INSERT, and then choose your most preferred chart from the recommended ones.
VBA and Macros
Visual Basic for Applications (VBA) is the default programming language of all Microsoft Office programs. Excel macros use VBA to create automated processes, speed up manual tasks, and generate custom functions for users. The easiest way to remember VBA and macros is to know that VBA is a computing language and macros are codes generated with this language to run on the Excel environment.
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