What does it do?
Searches for a value in the first column of a table array and returns a value in the same row from another column (to the right) in the table array.
=VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])
What it means:
=VLOOKUP(this value, in this list, and get me value in this column, Exact Match/FALSE/0])
The VLOOKUP function in Excel can become interactive and more powerful when applying a Data Validation (drop down menu/list) as the Lookup_Value. So as you change your selection from the drop down list, the VLOOKUP value also changes.
See how easy it is to apply this with a quick VLOOKUP example below.
STEP 1: Go to Data > Data Validation.
STEP 2: Select List in the Allow dropdown.
For the Source, ensure that it has the 4 Stock List values selected. Click OK.
Your dropdown is ready.
STEP 3: We need to enter the Vlookup function:
The Vlookup arguments:
What are we looking for?
Reference the cell that contains the text or value:
From which list are we doing a lookup on?
Place in the cell range of the Stock List:
From which column do we want to retrieve the value?
We want to retrieve the Price which is the SECOND column from our table array:
+VLOOKUP(G15, $B$14:$D$17, 2,
Do we want an exact match?
Place in FALSE to signify that we want an exact match:
+VLOOKUP(G15, $B$14:$D$17, 2, FALSE)
The price now dynamically changes based on your selection: