Using Named Ranges in excel is an efficient way to create your formulas and should become best practice to create clean, easy to follow formulas for you and your colleagues.
In the table below we would normally use the following formula to SUM the Net Sales column:
This works perfectly fine but when you have multiple data sets you can easily lose track of what formulas are doing. Using a named range can help simplify this.
To create a named range for this example we would select cells F3:F9 and type the name we would like to call our range in the Name Box (circled below)
You can now refer to this range in all formulas in the workbook without the need to refer back to the cell range every time.