1.Understand the different parts of a formula in Excel:
-Reference: The reference denotes the range used in the formula.
-Lookup Value: The lookup value is the value that you’ll use to locate an item.
-Result: The result is the corresponding value of the lookup value.
2. Understand the type of data to be searched:
-Text: A text search looks for an exact match and is not case sensitive.
-Value: A value search looks for an exact match of a number.
-Logical: A logical search uses logical operators to compare conditions.
3. Choose the function from the following:
-INDEX: The INDEX function searches for a value in a range and returns the reference value.
-MATCH: The MATCH function searches for a specific value in your data and returns the relative position of the found value.
4. Setup the formula:
-Choose the worksheet and cell range for the search.
-Define the reference value.-Define the lookup range.-Enter the formula using the appropriate syntax.
5. Running the formula:
-Click on the cell with the formula, and enter it into the formula bar.
-Hit Enter to see the results.