Top 10 Formulas to Learn in MS Excel: A Guide to the Must-Know Excel Formulas for Students

The landscape of data management has changed drastically in recent years. From shifting the focus on AI-powered tools to integrating cloud-based solutions, the evolution is dramatic yet successful. Despite the major changes in the data management applications, MS Excel remains one of the most indispensable tools. Besides its importance in the domain of data management, MS Excel is significant for finance and business analytics. 

A major advantage of MS Excel is its easy handling of bulk data. Excel formulas and functions play an important role in this crucial benefit. The right understanding and implementation of formulas in MS Excel allows students to process their data and information to get the best results. In other words, excel formulas directly impact learners’ analytical ability and productivity. Find out more about the uses of such formulas in this detailed blog. 

What are Formulas in MS Excel? 

In MS Excel, students can perform calculations based on the data they have entered in a particular cell. Excel formulas are what allow students to perform such operations/calculations. They are codes that can be entered to complete a range of computations. Students can complete simple calculations, such as addition, subtraction, multiplication or division. They can even solve complex calculations like finding averages and percentages, and handling dates and times. Excel formulas should always start with an equal sign (=) to provide the desired result. 

How to Use Formulas in Excel? 

Let’s look at the simple steps to use an excel formula in real-time: 

1. First, the students must choose a cell. This is where Excel will process the computation. 
2. Enter the equal sign (=)
3. Then, they must enter the ‘address’ for a particular cell. This is the cell on which the formula can operate/compute. Students can also choose a cell from the sheet’s lists. 
4. Enter the required formula. This could be any excel formulas or functions. 
5. In the selected cell, enter the address for the end cell of the list. This marks the last cell for the operation to be complete.  
6. Finally, click the Enter key to complete the calculation. 

The Structure of Excel Formulas

To understand the process of using excel formulas, a student needs to learn about the structure of these formulas. 

• The equal sign (=) is mandatory for a formula to function in MS Excel. 
• Predefined functions in MS Excel are designed to perform specific tasks, such as SUM, AVERAGE, etc. 
• Cell references are vital to point to the specific cells where the calculation is to be performed. Examples are A5, B2, etc.
• Constants are fixed text or values that do not change regardless of the formula used. 
• Operators are symbols that are used for logical or mathematical operations, such as *, /, -, and +. 

Top 10 Formulas to Learn in Excel

Each formula in MS Excel completes a predefined operation on the data selected. The following are some of the simplest yet most useful excel formulas that will improve productivity: 

• SUM (): To add values. 

In MS Excel, the SUM formula is used to add up all the numbers in the selected number of cells. For example, a formula syntax of SUM(D1:D3) will add the numerical characters in the cells of D1 through D3 and provide a total. 

• AVERAGE (): To find out the mean. 

The excel formula of AVERAGE calculates the mean/average of the given range of numbers. It calculates the sum of the numbers and divides it by the sum count. The formula AVERAGE(D3:D10) will provide results for an average of the values in cells D3 to D10. 

• SUMIF (): To add with one condition. 

The SUMIF formula is used to add values like the SUM function, but it should meet a specific condition. The formula would look like SUMIF(B2:B10, F1, C2:C10) if the range is cells B2 to B10. The cell F1 consists of the specific criteria. Hence, the cells C2 to C10 will contain the values that meet the conditions of F1. 

• MEDIAN (): To find the middle-most value. 

In Excel, the MEDIAN formula is used to find the middle-most value from a range of given values. Hence, the formula MEDIAN(F2:F8) will command Excel to give the median value from these cells. 

• COUNT (): To count the cells with numeric values.

In a specified range of cells, the COUNT formula provides the number of numeric values. For example, COUNT(A1:A10) will count the number of numeric values present in cells A1 to A10. 

• COUNTA (): To count the number of non-empty cells. 

To get the number or count of cells that are non-empty in an Excel sheet, students can use the COUNTA formula. Hence, a formula such as COUNTA(D1:D20) will count all the non-empty cells within the D1 and D20 cells, including numbers and texts. 

• ROUND (): To round off numbers. 

A student might find several data entries that hold decimal values that require rounding off. With the ROUND formula, excel can round off the decimal numbers to specific decimal points or whole numbers. The syntax ROUND(A5, 2) will round off the value in cell A5 to two decimals. 

• MIN (): To find the lowest cell value. 

The MIN formula in Excel provides the lowest or smallest value in a provided cell range. For example, MIN(F2:F7) will return the lowest value in the cells F2 to F7. 

• MAX (): To find the highest cell value. 

In excel, the MAX formula finds the highest value in the cell range that has been selected. Hence, in cells H5 to H10, the code MAX(H5:H10) will provide the greatest numerical value. 

• LEN (): To calculate the value’s length in a cell. 

The LEN formula is used in Excel to measure the length of a given cell’s value. This formula can be used for numerical, string, or textual data. The syntax should look like LEN(A5), where Excel calculates the count of characters in cell A5.  

Conclusion

MS Excel has become a significant tool in various sectors, from data analytics to project management and even office administration. A main reason behind its popularity is the simple, quick, and useful Excel formulas and functions. They reduce the workload while handling large databases and information, improving productivity. Additionally, these formulas become easy to use with time and practice. Overall, a strong understanding of Excel and its various formulas can offer students confidence in their career path.