Excel, the widely used spreadsheet software, continues to evolve, introducing new functions that empower users to perform advanced calculations and streamline their data analysis tasks. Our team has compiled five of our favorite Excel tips to share with you in this blog.
1. LET Function
The LET function, introduced in a recent update, simplifies complex calculations by allowing users to define variables within a formula. By assigning values to variables, users can enhance formula readability and avoid repetitive calculations. The LET formula increases efficiency by enabling users to break down complex calculations into smaller, manageable steps. It not only saves time but also improves formula maintenance and troubleshooting. Watch it here.
2. FILTER Function
The FILTER function provides users with a dynamic way to extract specific data from a range or table based on defined criteria. This formula allows for advanced data filtering without the need for complex nested IF statements or array formulas. By specifying conditions, users can extract only the data that meets their criteria, making it easier to analyze and work with subsets of data. The FILTER function is a valuable addition that enhances data analysis capabilities and reduces formula complexity. Watch it here.
3. UNIQUE Function
The UNIQUE function is a powerful tool that helps users identify and extract unique values from a range or array. With this formula, you can eliminate duplicates and obtain a distinct list of values effortlessly. Whether you’re working with a large dataset or trying to find distinct values in a column, the UNIQUE formula simplifies the process. It provides a quick and efficient solution for data cleaning, analysis, and generating unique lists for reporting purposes. Learn more here.
4. SORT Function
Introduced as a game-changer for data sorting, the SORT function allows users to sort data in ascending or descending order within a formula. This eliminates the need for manually sorting data and provides a dynamic way to organize information on the fly. The SORT function can sort data based on a single column or multiple columns, and it supports custom sorting rules and ignoring specific characters. With this formula, users can streamline their data manipulation process and easily update sorted results as new data is added. Learn more here.
5. TEXTSPLIT Function
Whether you have a column containing full names that need to be separated into first and last names, or a string of addresses that requires splitting into individual elements like street name, city, and postal code, one of our favorite Excel tips, TEXTSPLIT can save you significant time and effort. Using TEXTSPLIT is straightforward. Start by selecting the cell range where you want the split text to appear. Then, navigate to the “Data” tab and click on the “Text to Columns” button. This will open a dialog box where you can choose between different delimiters such as commas, spaces, or custom characters. Alternatively, you can specify a fixed width if your text follows a consistent pattern.
By utilizing the TEXTSPLIT function, data analysts and spreadsheet enthusiasts can streamline their workflows, eliminate tedious manual splitting, and focus on analyzing the information at hand. It empowers users to efficiently transform raw text data into structured formats, paving the way for more accurate calculations, insightful visualizations, and informed decision-making. Learn more here.
6. Bonus Excel Tip – Leverage Microsoft Power Query
Microsoft Power Query is a data transformation and extraction tool used in Microsoft Excel and Power BI that enables users to connect to various data sources, such as databases, files, and web services, and manipulate the data to meet their analysis needs. It offers a user-friendly interface to easily navigate, filter, merge, and shape the data through a series of intuitive steps. With its robust capabilities, Power Query allows users to clean and transform data efficiently, automate repetitive tasks, handle large data sets, and create flexible data models for further analysis and visualization, making it an indispensable tool for data professionals.
See how ExtendInsights users can connect to their NetSuite data, cleanse and transform it with Power Query, and visualize it in Excel.
Conclusion
Excel’s recent formula additions, including LET, FILTER, UNIQUE, SORT, and TEXTSPLIT, have expanded the capabilities of the software and improved data analysis efficiency. These formulas offer advanced functionality, simplifying complex calculations, data filtering, duplicate removal, sorting, and sequential value generation. By leveraging these powerful tools, users can save time, enhance accuracy, and unlock new possibilities in data management and analysis. As Microsoft continues to invest in Excel’s development, we can anticipate more innovative formulas to further enhance productivity in the future.