Excel is a program that always helps in analyzing multiple projects by using many functions. In Excel, a function is basically a preset formula that lets you execute statistical, mathematical, and rational operations. When the function is obvious to you, just add an equal sign (=) in the cell, that follows by the name of the function as well as the cell range.

**The Parts of a Function**

In Excel, you must have to enter a function in the right way. If a function is not added properly the function would not work perfectly. Properly writing a function is called syntax and the basic syntax is an equals sign, the function name, and one or more arguments. The data in arguments need to be calculated. Below you can see the function in which value is added to the cell range A1:A20.

**Working with Arguments**

In arguments, you can add individual cells as well as cell ranges. Besides, you also have to put them within parentheses. It is up to you whether you add one or more arguments based on the syntax needed for the function. For instance, the function =AVERAGE(B1:B9) needs you to calculate the average of the values given in the cell range B1:B9. In this function, only one argument is used.

The comma is used to separate multiple arguments, for instance, the function =SUM(A1:A3, C1:C2, E2) will add the values of each cell given in three arguments.

**The Significance of Functions**

Generally, functions help you in boosting productivity while working with Excel. Suppose, you need to have the grand total for the home supplies budget, and for this, you may use a formula for the grand total. With the formula, you need to reference the cells from E4 to E8. For this, the following formula can be used:

**=E4 + E5 + E6 + E7 + E8**

While using the function, the formula would be as:

**=SUM (E4:E8)**

By using the formula, you can have the sum of cell range easily to reference many cells.

**How to Add a Function in Excel**

By typing the function name you need to add in the cell you can add a function easily. Just put the equals sign before the name you have added.

Suppose, you need to add the SUM function:

- At first, you have to add = and type SUM.
- Now, add the opening parentheses.
- Identify the arguments.
- Finally, add closing parentheses and press ENTER.

**Using Function**

Below you can see the most common functions used in Excel:

**SUM**: In this function, you can add the values used in the argument.

**AVERAGE**: In this function, the average values will be added to the argument. It also helps in calculating the cells and then the number of cells used in the argument adds the value.

**COUNT**: In this function, you can count the cell numbers with numerical data in the argument. Furthermore, the function is useful to count items in a given cell range.

**MAX**: In this function, the highest cell value is determined given in the argument.

**MIN**: In this function, the lowest cell value is determined in the argument.

**Main Types of Function**

Below you will see some key types of functions:

**Logical Functions**

Using this kind of function can help in making the most effective formula in the spreadsheet.

**Date Functions**

In Excel data, dates are used preferably because it is a value that is used every day. It also lets you analyze the data properly.

**Text Functions**

It helps in managing data that has text values so that you can work on them effectively.

**Time Functions**

Similar to dates, time values are also highly significant and your data could have time functions to manage with time values data.

**Maths Functions**

Excel as you know is all about dealing with mathematical values and for this, you can sue this function to have a more accurate analysis.

**Lookup Functions**

Sometimes, you need some functions that can look up data used in a cell or cell range. For this, you can use lookup functions.

**Financial Functions**

In this function, you can calculate the generic however vital financial calculations easily.

**Information Functions**

Using this function can let you get information about the values you supplied.

**Statistical Functions**

In Excel, you can get the benefit of having statistical functions to analyze data conveniently.

**Final Thoughts**

Excel is fully loaded with many functions to be used for several calculations. Sometimes, each function is helpful individually whereas you may need a combo of two functions to carry out a task smoothly.