How to Use the NEW & IMPROVED Excel XLOOKUP (with 5 Examples)

Step-by-Step Tutorial: How to Use Excel XLOOKUP with 5 Examples

1. Understanding the Basics of XLOOKUP:

   • XLOOKUP can replace VLOOKUP, INDEX MATCH, and more.
   • It can handle items not found, use wildcards for partial matches, perform two-way lookups, and find approximate matches.

2. Calculating Maximum Bonus for Employees:

   • Create a table with employee names and yearly salaries.
   • On a separate tab (e.g., B_Master), list employee IDs, bonus percentages, and names.
   • Use XLOOKUP to bring over the bonus percentage to the main sheet based on employee names.
   • Multiply the bonus percentage with the yearly salary to calculate the maximum bonus for each employee.

3. Handling Horizontal Lookup:

   • If the bonus table is arranged horizontally, use XLOOKUP for a horizontal lookup.
   • Adjust the lookup_array and return_array accordingly.
   • Handle errors by setting a zero percentage for not found values.

4. Using Wildcards for Partial Matches:

   • Use a wildcard character (*) in the lookup_value to find partial matches.
   • Adjust the match_mode to accept wildcard characters.
   • Combine wildcard characters with text in XLOOKUP to retrieve the desired information.

5. Performing a Two-Way Lookup:

   • Create a scenario where you need to do a two-way lookup.
   • Use multiple XLOOKUP functions to determine which range to consider for the lookup.
   • Calculate the maximum bonus based on the given criteria.

6. Implementing an Approximate Match:

   • Define a new bonus scheme with different percentages based on salary ranges.
   • Use XLOOKUP with an approximate match to assign the correct bonus percentage based on the salary amount.
   • Multiply the percentage with the salary to calculate the bonus for each employee.

7. Exploring Match Modes in XLOOKUP:

   • Understand the match_mode options in XLOOKUP, such as exact match, next smaller item, or next larger item.
   • Experiment with different match_mode settings to refine your lookup results.

8. Conclusion:

   • Experiment with the XLOOKUP function in Excel to handle various lookup scenarios efficiently.
   • Practice using XLOOKUP with different examples to enhance your Excel skills.

By following these steps, you can effectively utilize the new and improved Excel XLOOKUP function for various lookup tasks in your spreadsheets.