If you access Excel through an Office 365/Microsoft 365 subscription, get ready for the new LET function. LET began appearing in select releases of Excel in July 2020 and will continue to roll-out over the upcoming year. In essence, LET allows you to declare and store a variable inside a formula. Once you establish the variable with LET, you can then use that variable repeatedly in the same formula. In this video tip, you will learn how Excel’s new LET function can simplify your formulas.