Question

How are these Excel functions SUMIF, AVERAGEIF, SUMIFS, and AVERAGEIFS useful to the business or organization?

How are these Excel functions SUMIF, AVERAGEIF, SUMIFS, and AVERAGEIFS useful to the business or organization?

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Answer #1

Sum, average are important functions by themselves. It can let a business know its net sales or average sales across all outlets.

Businesses can further gain by sumifs and averageifs as these function allow one to calculate sum and average based on certain criteria. This could be geographical enabling us to know best performing regions or any other. This important information allows businesses to know what is working and use that to further increase profits. It can also help businesses know what doesn't work so the mistakes can be rectified.

As such these are extremely simple but powerful tools in the hands of a business who knows how to use them.

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