What are Excel functions?
Excel functions are defined as the set of formulas that incorporates the Excel application that has the objective to do predefined calculations with providing only the values to want calculate.
To understand more clear the concept Excel functions and formulas we will see the following example:
Suppose we want to calculate the highest power of 3 to 10, so we have two options:
Multiply in our spreadsheet 10 times the number 3, so that the cell in which we get the result we should write = 3 * 3 * 3 * 3 * 3 * 3 * 3 * 3 * 3 * 3
Use the "POWER" function which is incorporated on the Excel application, so that the cell in which we get the result we should write POWER (3, 10)
Comparing both options, the second method gives us the desired value in the shortest possible time and without mistakes, imagine that we now know the value of 2.56783 raised to 150, probably the first option would take a long time to enter all the information, besides running the risk of making mistakes when you type, however the second option should only write the following Excel function POWER (2.56783, 150), we have written just in 2 seconds and immediately the excel function have obtained the correct and reliable result.
Thanks to the Excel functions we can perform complex calculations without entering complex formulas and we can be misleading.
The functions which incorporate the excel application is classified into the following categories:
Math and trigonometry - These excel functions that reference mathematical calculations such as calculating cosines, tangents, logarithms, roots, etc ...
Financial – These excel functions that facilitate the calculation and generation of financial models, refer formulas for the calculation of interest, depreciation, payments, etc ...
Date and time – Are the excel functions used for managing and calculating dates in Excel spreadsheets
Statistics – are the functions that incorporates the Excel application to facilitate the calculation of statistical studies and models, are formulas that allows us to calculate the mean, variance, distribution, changes ...
Search and Reference – Excel functions that helps us manipulate and find information within Excel spreadsheets.
Database - functions that allow us to manipulate, manage and calculate list of data that are in our Excel spreadsheets.
Engineering - functions that helps to perform calculations relating to engineering-based models and formulas used in engineering.
Text - functions that allow us to manipulate, convert and calculate strings with text functions for example we can delete or add words in a text string.
Logic – Excel functions that allows us to establish conditions for calculations.
Information - functions that provide information about the data contained in our excel spreadsheet.
User Defined - Functions created using Excel macros that can be incorporated into our spreadsheets by adding supplements.
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