<ul><li>An “IF statement” is a logical function in Excel that checks whether a condition is true or false, and then returns a value based on that condition.</li><li>IF statements in Excel follow the structure: =IF(condition, value_if_true, value_if_false)</li><li>IF statements allow you to categorize data based on conditions, making data analysis quicker and more efficient.</li><li>Tips for using IF statements: combine multiple conditions, use nested IF statements, and be mindful of data types.</li></ul>

The Power of IF Statements in Excel

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