No matter how advanced tools become, Microsoft Excel remains one of the most powerful tools for data analysts.
Even if you use SQL, Python, or BI tools, Excel is often where quick analysis, validation, and stakeholder requests happen.
If you truly want to stand out as an analyst, these 25 Excel formulas are non-negotiable.
Core Calculation Formulas
- SUM() – Adds values in a range
- AVERAGE() – Calculates the mean
- COUNT() – Counts numeric cells
- COUNTA() – Counts non-empty cells
- COUNTIF() – Conditional counting
- SUMIF() – Conditional summation
- SUMIFS() – Multi-condition summation
- COUNTIFS() – Multi-condition counting
These are foundational for KPI tracking and summary reports.
Lookup & Reference Formulas
- VLOOKUP() – Vertical lookup (legacy but common)
- HLOOKUP() – Horizontal lookup
- XLOOKUP() – Modern, flexible lookup
- INDEX() – Returns value from a position
- MATCH() – Finds position of a value
- INDEX + MATCH – Powerful alternative to VLOOKUP
Every analyst must understand lookups deeply. They’re used daily for merging datasets and cross-referencing values.
Logical Formulas
- IF() – Conditional logic
- IFS() – Multiple conditions
- AND() – Logical AND
- OR() – Logical OR
- IFERROR() – Handles formula errors
These formulas allow you to build dynamic analysis models and dashboards.
Date & Time Functions
- TODAY() – Returns current date
- NOW() – Returns date and time
- DATEDIF() – Calculates difference between dates
- EOMONTH() – Returns end of month
Date calculations are essential for time-based analysis, churn tracking, and monthly reporting.
Data Cleaning & Text Functions
- TRIM() – Removes extra spaces
- LEFT() / RIGHT() / MID() – Extracts text
- CONCAT() / TEXTJOIN() – Combines text
- LEN() – Counts characters
- UPPER() / LOWER() / PROPER() – Standardizes text
Messy data is common. These formulas help clean and format text quickly.
Advanced Analytical Formulas
- RANK() – Ranks values
- PERCENTILE() – Calculates percentiles
- STDEV() – Standard deviation
- SUBTOTAL() – Flexible aggregation
- UNIQUE() – Returns distinct values
- FILTER() – Dynamic filtering
- SORT() – Sorts dynamically
These are powerful for exploratory analysis and dashboard modeling.
Why Excel Still Matters
Even if you use tools like Microsoft Power BI or SQL databases, Excel remains:
- The fastest way to validate data
- A common stakeholder request format
- A powerful ad-hoc analysis tool
- Widely used in finance, operations, and marketing
Excel is not “basic.” It’s foundational.
How to Master These Formulas
To truly master Excel:
- Practice with real datasets.
- Rebuild dashboards from scratch.
- Avoid manual calculations, automate with formulas.
- Combine formulas for dynamic models.
- Learn keyboard shortcuts alongside formulas.
Most analysts underestimate Excel until they work in a fast-paced business environment.
You don’t need 200 Excel formulas.
You need the right 25–30 and deep understanding of how they work together.
Master these, and you’ll:
- Work faster
- Reduce errors
- Impress hiring managers
- Deliver better insights
Excel is still one of the most practical and in-demand skills in data analytics.
FAQs
1. Is Excel still important for data analysts?
Yes. Many companies still rely heavily on Excel for reporting and ad-hoc analysis.
2. Should I learn Excel before SQL?
Both are important, but Excel is often easier for beginners to start with.
3. Is XLOOKUP better than VLOOKUP?
Yes. XLOOKUP is more flexible and powerful, especially in modern Excel versions.
4. Can Excel replace Power BI?
Excel is great for analysis, but BI tools handle large-scale dashboards and automation better.