What is a lookup formula in Excel?

Answer 1

LOOKUP (lookup_value, lookup_vector, [result_vector])



Answer 2

It is a cell or cells that is related to a table of values elsewhere in the spreadsheet by use of a command such as VLOOKUP. It is typically used one of two ways: as a way to validate entered values in a column against a set number of acceptable values or, in addition to the former, to use one column to display additional or more descriptive information in another column. An example of the latter might be a column where the abbreviation of US states is entered that uses a lookup table to not only ensure only valid abbreviations are entered but also display in another column the corresponding state name.