Lets say you are the head of purchasing department at Big Corp Co.
You are obviously very busy. Every day starting with a large cup of coffee and ends with a big smile, as you save your company thousands of $s by negotiating best deals, finding best providers and being awesome.
Today, let me share a small Excel tip with you that will make you even more awesome.
Finding a provider with lowest value:
Lets say you are looking at a table like below and want to find-out lowest priced providers for each service.
To find providers with lowest value:
- Find the least amount for each service. Assuming the services are in the range C5:G5, use =MIN(C5:G5) to get this.
- Give a name to list of providers. I call mine as providers
- Using INDEX, MATCH formulas find the provider name with lowest amount. Like this:
=INDEX(providers, MATCH(minimum_value, C5:G5, 0)) - Bingo. You have the answer.
Bonus tip #1: Highlighting lowest values.
If you just want to highlight the lowest values, use conditional formatting.
- Select first row of numbers.
- Go to Home > Conditional Formatting > Top / Bottom rules > Bottom 10 items
- Set to Bottom 1 and specify formatting as you want.
- Using format painter, copy the conditional formatting, one row at a time.
- Done!
Bonus tip #2: Handling Ties
Often 2 or more providers will tie for the bottom spot. What then?
One way to handle the ties is to show the word ties when 2 or more names have lowest value. To do this, use this formula instead.
=IF(COUNTIF(C5:G5, minimum_value)>1,"Ties", INDEX(providers,MATCH(minimum_value,C5:G5,0)))
A formula challenge for you…
Now that you know how to find the lowest value, here is a challenge for you.
- How do you write a formula to find which provider has maximum lowest values. In this example, the name we are looking for is TATA as they have 3 lowest values.
Want to find more… look here:
If you want to find more Excel formula tips and techniques, look no further. Start your journey with this and see how deep your formulas can nest.
9 Responses to “CP044: My first dashboard was a failure!!!”
CONGRATS on the book!
Thanks for this podcast. It's great to hear about your disaster and recovery. It's a reminder that we're all human. None of this skill came easily.
Thank you Oz. I believe that we learn most by analyzing our mistakes.
Hey chandoo
this really a good lesson learned
but as I have already stated in one of my previous email that it would be more helpful for us if you could release videos of your classes for us
thanks
The article gave me motivation, especially you describing the terrible disaster that you faced but how to get back from the setbacks. Thanks for that, but with video this will be more fun.
Hi Nafi,
Thanks for your comments. Please note that this is (and will be) audio podcast. For videos, I suggest subscribing to our YouTube channel. No point listening to audio and saying its not video.
You always motivate me with respect of the tools in excel. How we can really exploit it to the fullest. Thanks very much
Thank you Amankwah... 🙂
Thank you very much, Chandoo, for your excellent lessons, I am anxious to learn so valuable tips and tricks from you, keep up the great job!
I truly appreciate the transcripts of the podcasts, because as a speaker of English as a second language, it allows me to fully understand the material. It'd be great if you can add transcripts to your online courses too, I am sure people will welcome this feature.
Dashboards for Excel has arrived in Laguna Beach, CA! Thanks!
Now I need to make time to "learn and inwardly digest" its contents as one of my high school teachers would admonish us!