Simplifying Excel Formulas with the LET and LAMBDA Functions

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Course Description

Get up to speed on the LET and LAMBDA functions in Microsoft 365. In this course, Excel expert David H. Ringstrom, CPA, sets the stage by explaining the concept of using range names in any version of Excel. Range names simplify formula writing and create navigation aids. The LET function lets you create nicknames, similar to range names, within formulas. These nicknames can stand in for inputs, or even calculations, so that you don't have to repeat portions of a formula. Conversely, the LAMBDA function enables you to create custom worksheet functions in Excel without having to write any code. LAMBDA functions can be transferred between workbooks in Excel.

David demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the subscription-based Microsoft 365 (formerly Office 365) version of Excel. David draws your attention to any differences in the older versions of Excel (2021, 2019, 2016, 2013, and earlier) during the presentation as well as in his detailed handouts. David also provides an Excel workbook that includes most of the examples he uses during the course.

Microsoft 365 is a subscription-based product that provides new feature updates as often as monthly. Conversely, the perpetual licensed versions of Excel have feature sets that don't change. Perpetual licensed versions have year numbers, such as Excel 2019, Excel 2016, and so on.

Who should attend: Practitioners seeking to stay up to date on the latest functionality in Excel.

Level: Advanced

Topics covered:

  • Create your own custom worksheet functions without writing any code in Microsoft 365 with the LAMBDA function.
  • Creating bookmarks and nicknames for key inputs by way of the Create Names from Selection feature.
  • Documenting IF functions by using LET to assign nicknames to the inputs.
  • Exploring the risks and benefits of participating in the free Microsoft Office Insider program.
  • Incorporating decisions into calculations with Excel's IF function.
  • Navigating directly to inputs by using Excel's Name Box, and then returning to the previous location in the workbook via the Go To command.
  • Streamline formula writing with by creating nicknames for repetitive values with the LET function in Microsoft 365.
  • Transforming cell references into range names by way of the Apply Range Names to Formulas command.
  • Using range names to streamline formulas and bookmark key inputs within a workbook.

Learning objectives:

  • Define the arguments used in the LET function.
  • Recall the steps necessary to create range names in Excel.
  • State how to use the LAMBDA function to create custom worksheet functions.

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