📌 Excel Defined Names: used to represent a cell, range of cells or formula
There are several advantages of using defined names in Excel spreadsheets:
· Improved readability: Instead of cryptic cell references like B10: C15, you can use clear names like CommisionRate. This makes it easier to understand what the formula is doing, even for someone unfamiliar with the spreadsheet.
· Reduced Errors: By using defined names, you lessen the chance of typos in cell references.
· Enhanced Navigation: As your spreadsheet grows and you make changes, defined names make it simpler to locate and update relevant formulas.
· Flexibility with formulas: Defined names can be used with various functions like VLOOKUP and SUMIF, making it easier to build complex formulas that reference specific data ranges.