IFERROR Function in Excel

🔍 Part 1. Introduce:

🔹 Definition: The IFERROR function in Microsoft Excel 📊 is a powerful error-handling function that allows you to deal with errors in your formulas gracefully. It checks for errors in a formula or expression and returns an alternative value if an error occurs.

🔹 Purpose: The purpose of the IFERROR function is to provide a user-friendly and cleaner output by catching errors and replacing them with a specified value or a custom message.

🔹 Syntax & Arguments: The syntax of the IFERROR function is as follows:

syntax
`=IFERROR(value, value_if_error) `

🔹 Explain the Arguments in the Function:

• value: This represents the expression or formula you want to evaluate for errors.
• value_if_error: You want to return this value if the evaluated expression results in an error.

🔹 Return Value: If the evaluated expression or formula results in an error, the IFERROR function returns the value specified in the “value_if_error” argument. If the evaluated expression is error-free, the Function returns the result of the expression itself.

🔹 Remarks:

• Common errors that the IFERROR function can handle include #N/A, #VALUE!, #REF!, #DIV/0!, #NUM!, #NAME?, and #NULL!.

🔍 Part 2. Examples:

🔹 Example 1: Sales Projection

ABC
1MonthProjected SalesSales Growth
2January\$10,000=IFERROR(B2-B1, 0)
3February\$12,000=IFERROR(B3-B2, 0)
4March\$15,000=IFERROR(B4-B3, 0)

Explanation: In this example, we have a list of months in column A. The cell values in column B represent projected sales for each month. The formula in column C calculates the sales growth by subtracting the previous month’s sales from the current month’s sales. The IFERROR function handles errors in case there is no last month’s sales data (e.g., in the first row). If an error occurs, the Function will return 0.

🔹 Example 2: Inventory Reorder

ABC
1ProductStock LevelReorder
2Product X10=IFERROR(IF(B2<5, TRUE(), FALSE()), FALSE())
3Product Y2=IFERROR(IF(B3<5, TRUE(), FALSE()), FALSE())
4Product Z7=IFERROR(IF(B4<5, TRUE(), FALSE()), FALSE())

Explanation: In this example, we have a list of product names in column A. The cell values in column B represent the current stock levels of each product. The formula in column C checks if the product needs to be reordered (stock level is less than 5). The IFERROR function is used to handle errors if the stock level is unavailable (e.g., out-of-stock product), and it returns “FALSE.”

🔹 Example 3: Project Completion

ABC
1ProjectStatusCompleted
2Project XComplete=IFERROR(IF(B2=”Complete”, TRUE(), FALSE()), FALSE())
3Project YIn Progress=IFERROR(IF(B3=”Complete”, TRUE(), FALSE()), FALSE())
4Project ZComplete=IFERROR(IF(B4=”Complete”, TRUE(), FALSE()), FALSE())

Explanation: In this example, we have a list of project names in column A. The cell values in column B represent the status of each project, either “Complete” or “In Progress.” The formula in column C checks if the project is completed (rate is “Complete”). The IFERROR function handles errors in case there is a typo or an undefined status and returns “FALSE.”

ABC