Microsoft Excel is a practical application. With Excel’s tools and capabilities, you can perform an endless number of operations on a dataset. Frequently, we must use the combination of IF and ISERROR statements in Excel. However, applying Nested IF and ISERROR functions are essential in many situations. This article examines two suitable examples for implementing Nested IF and ISERROR functions. Therefore, don’t hesitate to go through these two practical examples to use Nested IF and ISERROR Formula in Excel.
Why Do We Use Nested Formulas?
Function Nesting is passing one function into another as a parameter. In other words, Nesting is when a function is utilized as an expression in another function’s equation. In this case, the nested function will be referred to simply as the function. Only the data stored in a stored procedure exogenous variables can be released from the function’s main memory. When multiple calculations must be performed to conclude, and the results from those computations are not required at each intermediate stage, nesting functions may be helpful.
How to Use Nested IF and ISERROR Formula in Excel: 2 Practical Examples
To illustrate this point, let’s examine two representative datasets. The first dataset consists of four columns titled Product Name, Gross Cost, Quantity, and Unit Price. Using the combination of IF and ISERROR, we will create a Nested Formula to determine the Unit Price of commodities. In contrast, the second dataset has three columns: Sales Rep, Experience (Year) and Target Sales. Furthermore, two pieces of information about Primary Sales and Basic Salary belong to the second dataset. Eventually, we will develop a Nested statement using the IF and ISERROR functions to establish Target Sales for various employees.
I’ve also been using Microsoft Excel 365 to compose this post. You are free to select the version that best meets your needs, and whichever option you choose is acceptable to us.
1. Calculate Unit Price of Commodities Using Nested IF and ISERROR Functions
The IF function performs a logical evaluation and produces one answer for quite a TRUE result and another for a FALSE conclusion. The ISERROR function, on the other hand, can be used to check if a numerical expression contains an error. In this context, we will develop a nested formula to determine the Unit Price of commodities using these two functions. To complete the work with the assistance of the nested procedure, adhere to the guidelines below.
STEPS:
- To begin, choose the intended sheet as the Active sheet.
- Second, select the E5 cell.
- Third, input the below equation in the Formula bar.
=IF(ISERROR(C5/D5),"On the way",C5/D5)
- After that, hit the Enter or Tab key.
- Subsequently, the result will display in E5.
- Now, we have to use the same formula in the other cells.
- To achieve this, utilize the AutoFill Handle icon and drag it to cell E10.
- As a result, it will produce the desired output like the below one.
=IF(ISERROR(C5/D5),"On the way",C5/D5)
For this formula to make sense, you need to know how to use the following Excel functions:
IF and ISERROR Functions
- ISERROR(C5/D5)
The ISERROR function determines whether a mathematical expression contains an error. In this demonstration, by involving the ISERROR function in the combination, we find- FALSE.
- IF(ISERROR(C5/D5),”On the way”,C5/D5)
The IF function performs a logical evaluation and returns one value for a TRUE conclusion and another for a FALSE one. Here, the IF function will evaluate FALSE because of the output of the ISERROR function and perform C5/D5. Utilizing the IF function, we get – 49.
Read More: How to Use ISERROR and VLOOKUP Functions in Excel
2. Estimate Target Sales Utilizing Nested IF and ISERROR Formulas
A sales goal is the minimum and maximum quantities of a product the sales representatives must sell to achieve financial stability and growth. This section will cover how we can estimate the Target Sales utilizing nested IF and ISERROR formulas. Follow the directions below to successfully finish the work with the help of the nested IF and ISERROR functions.
STEPS:
- To get started, select the sheet you want to use as the Active sheet.
- In the second step, pick the D5 cell.
- In the third stage, type the equation below into the Formula bar.
=IF(ISERROR($D$12*$D$13/C5),$D$12,C5*$D$12)
- After that, you may either press Enter or Tab to continue.
- Following that, the result will appear in the D5 cell.
- Now we need to apply the same formula to all of the other cells in the D column.
- To do this, make use of the symbol designated as the AutoFill Handle and move it to cell D10.
- As a consequence of this, it will generate the desired output, which will look like the example below.
=IF(ISERROR($D$12*$D$13/C5),$D$12,C5*$D$12)
To understand this formula, you must be familiar with the following Excel functions:
IF and ISERROR Functions
- ISERROR($D$12*$D$13/C5)
In this demonstration, by involving the ISERROR function in the combination, we find TRUE. Here, the C5 cell contains 0. Diving by 0 results in #DIV/0! Error.
- IF(ISERROR($D$12*$D$13/C5),$D$12,C5*$D$12)
Here, The return value of the ISERROR function is TRUE. That’s why the IF function provides the value of cell $D$12. Utilizing the IF function, we get – 400.
Read More: IF with ISERROR Function in Excel
Download Practice Workbook
Please click the link underneath this section if you want a free copy of the illustration workbook we discussed during the demonstration.
Conclusion
From this point forward, you can use Nested IF and ISERROR Formula in Excel by following the examples we just covered. Continue utilizing them, and let us know if you have any additional ideas or other methods for finishing the assignment. Please send any queries or suggestions in the below space.
