Using the VLOOKUP Function to Solve a Real-World Problem in 5 Minutes | Practical Excel Example
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In this Excel video lesson, we will learn how to use the Vlookup function in the Excel spreadsheet to solve a real problem in practice and step by step.
In this free Excel tutorial, I have two spreadsheets.
The first spreadsheet is the purchase list of each product and information such as product, purchase date, unit cost, quantity purchased and region of the manufacturer.
In the second spreadsheet, I have the sales of several products and I need to calculate the margin. However, this is where the problem arises and I need Vlookup to give me the solution to this challenge. In the sales spreadsheet, I have the product sold, the quantity sold, the unit sales value, but I do not have the cost, and I need the cost to be able to calculate the margin.
I could manually get the cost of each product from the purchasing spreadsheet, but this process can take a long time and delay my other tasks, and I need to save time in my daily work with Excel. Therefore, I will use the VLOOKUP formula to help me solve this problem.
The VLOOKUP function can find all the costs of each product I sold for me, because it is a search function, just like the HLOOKUP function, XLOOKUP function, and index and match function.
Sales Spreadsheet, Cost Table, Products, Prices, VLOOKUP Function, Formula, Problem, Real Life, Daily Life, Job Market, Search Vertically, Search for Result, Return Value from Another Spreadsheet, Join Tables in Excel.
Use the VLOOKUP Function when you need to find items in a table or a range by row. For example, looking up the price of an auto part by part number or finding an employee's name based on the employee ID.