Note: If you are using multiple values instead of a single continuous range, you’ll need to place each set in parentheses. The same range or list of values as you used for MIN().To use SMALL(), you’ll need two parameters: You can find these with the SMALL() function. Suppose you’re interested in more data – not just the lowest selling item but the three lowest. You now have a quick report of the fewest number of units sold in a state (102 tablets in Iowa) and the most sold (450 laptops in Illinois). You can find minimum and maximum units easily with the MIN() and MAX() functions.
This is a small list, but if you sell or resell a lot of product, the following formula can be invaluable. You need to find which products have the smallest and largest demand. The past year’s product sales are arranged as follows: Revelation keeps a spreadsheet with information including the state, model, number of units, unit price, and total revenue for each product per state. Identifying that specific gap is also great for setting performance standards, because you can figure out how you perform against other months.īecause Excel offers multiple ways to write range formulas to suit your individual needs, here are three range formula options to get you started! 1. You can use the average sales per month for insight into what raw materials you should need when. You can use sales data from the prior fiscal year to budget for raw materials, and the range can help you forecast next year’s sales based on this year’s results. The sooner you can purchase materials, the better, because the price increases the closer they are to the ship date. You can bid bulk pricing for raw materials that will significantly improve Revelation’s profits. Let’s pretend you are the purchasing manager for Revelation, Inc., a small business that distributes computers. The difference between the highest and lowest figures in a group of data – the range – can be valuable in accurate decision making, budgeting, and forecasting.
Most businesses don’t have time to waste sorting through rows and rows in Excel in order to find the highest and lowest values of revenue, sales, or other information. By Excel Tips and Tricks from Categories: Advanced Excel Tags: Excel Range FormulaĪn essential skill any Excel user should know is how to determine the range of values in Excel.
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