33 Top Advanced Excel Functions You Must Know For An Excellent Career

1. SUM

The SUM() function, as its name indicates, adds up the selected range of cell values. It carries out the mathematical operation which is addition. Here’s an example:

As you can see above, to find the total amount of sales for every unit, we had to simply type in the function “=SUM(C2:C4)”. This automatically adds up to 400, 525, and 660. The result is stored in C5. 

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2. COUNT

In the Excel formulas list, The COUNT formula is denoted =COUNT(Start Cell: End Cell). It does not include the cell, which is blank, and those who hold data in any other format than numerical. 

As seen above, we are counting from C1 to C4, ideally four cells. But as the COUNT function only considers cells with numeric values, the response is 3 because the cell containing "Total" is omitted.

If you have to count all cells with numeric values, text, and any other data format, you must use the ‘COUNTA()' function. However, COUNTA() does not count any blank cells.

3. INDEX MATCH

This function in Excel functions list is an excellent alternative to the VLOOKUP or HLOOKUP Excel formulas which has certain drawbacks for performing research tasks. The INDEX MATCH is a combination formula of 2 separate functions: 

INDEX: This formula returns the value of a cell in a table according to the column and row number.

MATCH: This formula returns a cell's position within a row or column.

4. AVERAGE

AVERAGE() concentrates on the calculation of the average of the selected range of cell values. As seen from the below formula, to find the avg of the total, you have to simply type in “AVERAGE(Cell 1, Cell 2, Cell 4)”. 

It automatically calculates the average, and you can store the result in your desired cell.

5. SUBTOTAL

Let's move forward and figure out how the subtotal function works. The SUBTOTAL() function returns the sub-total to a database. 

In the example above, we carried out the calculation of the subtotal on cells ranging from A2 to A4. As you can see, the function used is “=SUBTOTAL(1, A2: A4), in the subtotal list “1” refers to average. Thus, the above function will give the average of A2: A4 and the response to it is 11, which is stored as C5.

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6. DATE

In the Excel formulas it's denoted =DATE(year, month, day). This formula will return a date that corresponds to the values entered in the parentheses — even values referred from other cells. For example, if A1 was 1999, B1 was 9, and C1 was 1, =DATE(A1, B1, C1) would return 9/1/1999.

7. ARRAY

A Array Excel functions list encloses a simple formula in adjoining characters using the format.t, {=(Start Value 1:End Value 1)*(Start Value 2:End Value 2)}. Pressing ctrl+shift+center will calculate and return the value from multiple ranges, instead of simply adding or multiplying individual cells.

In revenue calculations, it can greatly reduce your time and effort. 

8. MODULUS

The MOD() function works by returning the rest when a given number is divided by a divisor. Let’s now have a look at the example below for a better understanding.

In this example, suppose we are dividing 30 by 3. The remainder is calculated using the function “=MOD(A2,3)”. The result is stored in B2. We can also directly type “=MOD(30,3)” as it will give the same answer. 

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9. TRIM

The TRIM formula in the Excel formulas list is denoted =TRIM(text). This formula will remove any spaces entered before and after the text entered in the cell. For example, if A3 includes the name "John Mendis" with unwanted spaces before the first name, =TRIM(A3) would return "John Mendis" with no spaces in a new cell.

Instead of deleting and adding spaces if needed, you can clean up any irregular spacing using the TRIM function, which is used to delete additional spaces from the data (excluding unique spaces between words).

10. CHOOSE

This is an Excellent tool for scenario analysis in financial modeling. There are several options you can choose from and return the “choice” which you’ve selected. For instance, if you have three different values for income growth next year based on assumptions, using the CHOOSE function, you can return the amount as needed.

The formula is:=CHOOSE(Cell 1, Cell 2, Cell 3, Cell 4), here's a practical example below.

11. LEFT, RIGHT, MID

In this Excel function list, the LEFT() function displays the number of characters from the beginning of a text string. In the meantime, the MID() function returns the characters from the middle of a text string, with a start position and a length. Ultimately, the Right() function returns the number of characters from the end of a text string.  

Let’s understand these functions with a few examples.

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12. UPPER, LOWER, PROPER

The UPPER() function converts any text string to uppercase. In contrast, the LOWER() function converts any text string to lowercase. The PROPER() function converts any string of text into its case, i.e., the first letter of each word will be capitalized and all other letters will be lowercase.

Let’s understand this better with the following examples:

13. NOW()

The NOW() function in Excel gives the current system date and time.

Excel NOW returns the date and time of the day, continuously updated when a worksheet is edited or opened. NOW() does not take an argument. You can format the value sent back by NOW as a date, or as a date with the time by applying a number format.

14. XNPV and XIRR

For all analysts who come through investment banking, equity research, or any other area of business financing that requires refreshing cash flows, then these Excel formulas are sure to save you a lot of time.

For example, in this Excel formulas list,  if you want to calculate the net present value (NPV) for any investment using a specific discount and cashflow rate occurring in irregular intervals, use the following function =XNPV(discount rate, cash flows, dates)

On the other hand, the XIRR function informs you about the internal rate of return (where output = input) for a series of cash flows arising at irregular intervals, such as =XIRR (values, dates, [guess])

15. RANDBETWEEN

This function allows the selection of a number within a predefined range of numbers on a random basis. 

Once you have placed the lowest and highest numbers in the formula, Excel can select the correct data in the fields to which the names in Range are attached and randomly pick from them. The method for the scenario is: =RANDBETWEEN(starting point, ending point)

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16. CEILING

Then we have the ceiling function. The CEILING() function rounds a number to its nearest significant multiple. 

For i.e, The nearest highest multiple of 5 for 45.316 is 50.

17. CONCATENATE

This function merges or joins multiple text strings in a single text string. The Excel CONCATENATE concatenate (join) function gathers up to 30 values and returns the result in text form. 

The Excel formula is =CONCATENATE (text1, text2, [text3], ...)

18. LEN

The LEN() function returns the string's total character count. This will count global characters, including spaces and special characters. The syntax is =LEN (text). Given below is an example of the Len function.

 =Len(Excel) the answer will be 5

Let’s now move on to the next Excel function on our list of this article.

19. FLOOR

In contrast to the Ceiling function, the floor function rounds a figure to the nearest multiple of meaning.

For i.e The nearest lowest multiple of 5 for 45.316 is 45.

20. REPLACE

As its name implies, REPLACE() works by replacing the part of a text string with another text string. 

The syntax is =REPLACE(old_text, start_num, num_chars, new_text).Here, start_num refers to the position of the index with which you want to begin typing. Next, num_chars indicate the number of characters you want to replace. 

Let’s now move to our next function. 

21. POWER

The "Power()" function returns the result of a large number to a certain power. Let's take a look at the following example:

As you can see above, to find the power of 10 stored in A2 raised to 3, we have to type = POWER (A2,3). This is how the power function works in Excel.

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23. SMALL

The SMALL function in Excel returns numeric values according to the position of the value in a list that is ordered by its importance. This function allows the retrieval of the "nth smallest values" of an array or a range of cells as the smallest value, the second lowest value, the third lowest value, etc

The Excel formula is=SMALL (times, range)

Since the SMALL function is automatic, you must provide a range and an integer for ‘nth' to specify the categorized value. The official names for this argument are ‘array’ and ‘k’.

22. SUBSTITUTE

The SUBSTITUTE() function changes the existing text to a new text in a text string. The formula is =SUBSTITUTE(text, old_text, new_text, [instance_num]). In this case, [instance_num] returns the current text index position more than once. 

Here is an example of this function: Suppose, we are substituting “I like” with “She likes” by typing =SUBSTITUTE(A20, "I like", "She likes"), and the result is “I like” is replaced with “She likes”

24. QUARTILE

In this Excel formulas list, this returns the quartile (each of the four equal groups) into a given dataset and can return the minimum value, first quartile, and second quartile maximum value. This function brings the quartile quantity of fields into an array. The function returns a numeric value based on the required percentile.

The Excel Formula is=QUARTILE (array, quart)

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25. OFFSET COMBINED WITH SUM

By itself, the OFFSET function may not be practical, but in combination with other services, you can get a complex formula with faster results. 

If you would like to create a dynamic role that can add any variable number of cells, the regular SUM formula, which is static needs to be combined with the OFFSET function.

So for finding out the sum of values in variable cells, the formula should be =SUM(Start Cell: OFFSET(Start Cell,0, End Cell))

26. IF AND

This formula is practical in situations where you need to create some conditions to comb through a stack of data. The IF statement helps to use the Advanced Excel IF function to create a new field based on these conditions on an already existing track.

For example, if you want to mark the employees with salaries above 60K and employee ID greater than 5, then the formula will be: IF(AND(E4>5, F4>60000)1,0)

Since there are no real cases in the above data, the formula would return the value 0. 

27. Pivot Tables

Pivot tables in Excel are a versatile tool that enables users to summarize, rearrange, sort, count, group, and calculate data effectively. They offer the ability to transform columns into rows and vice versa, providing flexibility in data presentation. By leveraging pivot tables, users can consolidate and analyze data from large spreadsheets, presenting it in a condensed and summarized format within a new table. This functionality empowers users to gain valuable insights and efficiently perform calculations on their data, enhancing data analysis and decision-making capabilities. Click here to learn more about how to perform a pivot on multiple columns.

28. Pivot Table Slicers

Slicers contribute to a more user-friendly and efficient data navigation experience within pivot tables. Slicers in pivot tables offer a user-friendly way to display and filter data selectively. Instead of traditional drop-down menus, slicers provide visually appealing buttons allowing users to hide or show specific data elements quickly. By interacting with slicers, users can dynamically control the visibility of data within the pivot table, enhancing the overall user experience. This intuitive feature simplifies data exploration and analysis, making it 

convenient to focus on specific data subsets and quickly uncover insights.

29. Macros

Macros in advanced Excel functions are user-defined commands that can be saved and executed automatically whenever needed. They provide a way to automate repetitive tasks and streamline processes. For example, you can create a macro to generate a customized table from your accounts receivable data, applying specific criteria such as date restrictions and formatting rules to highlight overdue payments in red. By understanding macro definitions and utilizing macros, users can save time and effort by eliminating the need for manual, repetitive actions, allowing for more efficient data processing and enhancing the overall productivity of Excel workflows.

30. Flash Fill

Flash fill-in Excel is a time-saving feature that enables users to fill out information rapidly by detecting patterns in the data. It is beneficial for tasks such as splitting first and last names from a single column or merging them from two separate columns. When Excel recognizes a pattern, flash fill automatically populates the remaining data. With flash fill, users can avoid manually entering or manipulating data, improving efficiency and accuracy. By harnessing the power of flash fill, Excel simplifies data transformation and enhances productivity in data management tasks.

31. IFERROR

IFERROR is a valuable error-checking function in Excel that explicitly addresses situations where formulas yield errors. It is a straightforward and effective method for detecting and handling formula mistakes. By using IFERROR, you can define a desired value to be displayed if a formula produces an error, ensuring that erroneous results are managed appropriately. On the other hand, if the formula is error-free, IFERROR returns the calculated result as per the formula's logic. This function simplifies error management, enhances data accuracy, and facilitates a smoother workflow by proactively allowing users to handle and display custom messages for formula errors.

32. TYPE

The Excel TYPE function is a handy tool when working with spreadsheets created by others. It assists in determining the category of data present. Using the TYPE function, you can obtain a numeric value corresponding to the data's specific category. There are five categories: number (represented by 1), text (represented by 2), logical (represented by 4), error (represented by 16), and array (represented by 64). This function enables users to efficiently classify and analyze data based on its type, data validation rules, troubleshooting, and ensuring accurate data processing within Excel.

33. Workbook

A workbook in Excel refers to a compressed file that contains multiple spreadsheets. It is a convenient and organized approach to storing and managing related spreadsheets in one central location. Using workbooks allows users to keep their spreadsheets well-organized, easily navigate between different sheets, and establish efficient workflows. Understanding how to work with workbooks is a fundamental skill in Excel that proves valuable in various entry-level positions. Whether it's consolidating data, creating reports, or analyzing information, working with workbooks is an essential skill that enhances productivity and promotes effective data management in Excel. 

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