Excel 2016 IFS Functions (9 Examples: Compare & Contrast IF & IFS Functions)
Learn all about the new Excel 2016 IFS Function for situations where you have three or more items to put in a cell and VLOOKUP will not work:
(00:10) Introduction to what IFS functions does. IFS is great for when you have 3 or more items to put into a cell.
(01:13) Create Income Statement Labels: Profit, Loss or Break Even. Compare and contrast IF function and IFS function. Also see ABS function.
(06:35) Use IFS function when you have an unusual Lookup situation. Commission Example to get 1 of 4 commission rates. See when you should use VLOOKUP and when it is better to use IFS function.
(13:05) Why #N/A Error shows up with the IFS Function. See that the Nested IF function method does not yield #N/A errors.
(14:32) How to put a default value into the IFS function using the “Last logical_test argument TRUR Trick”
(15:43) Compare IF and IFS and how the logical_test arguments interprets values.
(17:48) Use IFS functions to put 1 of 4 different formulas in a cell. Lookup a formula trick!
(20:24) Nested IF functions are still needed for Aggregate Function Array Formulas such as the Standard Deviation formula with multiple criteria that uses the STDEV.S function.
(22:51) IFS function to put the text Sunday, Saturday or Weekday into a cell. Also see the other Excel Function options: CHOOSE function, VLOOKUP function and the new Excel 2016 SWITCH function.