In my experience, most Excel users are unfamiliar with the SUMPRODUCT Function. So let me give you two reasons to watch this short (5 minutes, 22 seconds) video lesson to learn how – any why – to use SUMPRODUCT:
- The SUMPRODUCT Function will speed up your calculations in Excel – get results with one step. With SUMPRODUCT() you can avoid several intermediary calculations.
- With SUMPRODUCT, you may be able to trim the size of your Excel worksheet. You may not need as many columns (fields) as you think to get the result that you need!
In this lesson, I show you how to calculate the Total Value of the Inventory (for a fictional company) with one formula!
Excel Tips
Key Points Coverered
While the SUM Function “Adds Up” the values in the Arguments, the PRODUCT Function “Multiplies” the values in its Arguments.
- Using “Arrays” in SUMPRODUCTS. In Excel 2007, you can use up to 255 Arrays! The key point is that all Arrays must be the same size and shape. For example, if the 1st arry in the Arguments is 15 rows in one vertical column, then all of the subsequent Arrays must be 15 rows in one vertical column.
- I find that Creating – and Using – Names Cell Ranges for the Arrays will speed up writing the SUMPRODUCT formula.
I have decided to present the SUMPRODUCT Function in two lessons – so click on the sequel to see other uses for this function!
Click here to watch the 2nd video lesson on how to use the SUMPRODUCT Function in Excel.
You can learn how to “Master Excel in Minutes – Not Months!”
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