A LAMBDA formula in Excel is selected, up to the end of the first set of parentheses, ready to be copied. The Define Name button in Excel's Formulas tab is selected.

Formulas are powerful tools for performing calculations and analyzing data in Excel. In this beginner’s guide, you’ll learn how to use formulas and explore some popular built-in functions.

A formula is an equation that can use a function to perform an operation on cells or values. Examples of formulas using the above functions include: SUM(A1,B1) : Adds the values in cells A1 and B1.