Excel INDEX MATCH for two dimension lookups

The VLOOKUP function is a highly useful Excel function in financial analysis and business planning. It is a valuable one-dimension lookup tool – along with HLOOKUP. However in some cases, a financial analyst will require a two-dimension lookup tool, in order to reference the exact value from a data table, which a vanilla VLOOKUP function will be unable to perform.

The combination of the INDEX function with two MATCH functions can solve this matter.

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How to create a dynamic drop-down list in your financial model

A dynamic drop-down list is a great way to force spreadsheet users, to select a specific array of inputs for a cell in a financial model. This dynamic approach combines the Defined Name function, OFFSET and COUNTA functions to provide a drop-down list, which flexes whenever there are additions or deletions to the data array of inputs.

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Excel VLOOKUP across multiple worksheets

A standard Excel VLOOKUP can refer to values from a specific worksheet. Financial and business planning models are often complex and detailed in their analytics, and therefore require high-level executive summaries or dashboards of multiple worksheets.
The following illustration demonstrates the power of a VLOOKUP with the INDIRECT function to reference a Lookup_value from multiple worksheets.

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