Cobbler | INDEX MATCH vs VLOOKUP (2024)

Why INDEX MATCH is the Best Match for FP&A

Even VLOOKUP holdouts can't ignore that the benefits of Index Match clearly outweigh the downfalls when it comes to managing corporate budgets. Corporate budgeting requires managing a lot of moving parts and having reliable data and reports are table stakes. Index Match gives FP&A teams more confidence in their reports, reducing the potential for error, enabling better collaboration, and improving efficiency.

If you're interested in following the debate on Reddit, including the merits of other alternatives like XLOOKUP (available for Office 365 users) and PowerPivot (available via Excel plug-in), here are two links:


Of course, you can always reduce the Excel formulas that you need to create, by automating common FP&A reports. Cobbler helps FP&A teams automate BVA and headcount reporting. To learn more,
schedule a demo.

    Cobbler | INDEX MATCH vs VLOOKUP (2024)

    FAQs

    Is VLOOKUP better than match? ›

    1. Fewer errors thanks to dynamic column references. One of the biggest issues with using VLOOKUP is that it uses a static column reference. On the other hand, INDEX MATCH uses a dynamic column reference which means it can lead to fewer errors when moving around columns.

    Which is more efficient, xlookup or INDEX match? ›

    In general, XLOOKUP is faster than INDEX MATCH for simple lookups, but INDEX MATCH can be faster for more advanced scenarios. Here are the key considerations to guide your choice: Use XLOOKUP if: You are working with Excel 365 or 2021.

    Does VLOOKUP only return the first match it finds? ›

    That is how vlookup() works. It only returns the first matching result per search key. To get multiple results, you can use filter() and query() .

    Is VLOOKUP better than match in Google Sheets? ›

    In conclusion, both VLOOKUP and INDEX MATCH are powerful functions in Google Sheets that can be used to retrieve data from a table or range. While VLOOKUP is more straightforward and easier to use, INDEX MATCH is more versatile and allows for more flexibility when retrieving information from a range.

    When should you not use VLOOKUP? ›

    This means that the column containing the value you look up should always be located to the left of the column containing the return value. Now if your spreadsheet isn't built this way, then do not use VLOOKUP. Use the combination of INDEX and MATCH functions instead.

    Why use VLOOKUP with match? ›

    To prevent your formula from returning incorrect information in situations where data may be altered, the MATCH function can be integrated into VLOOKUP to make the function tolerate such changes.

    What is the most efficient lookup in Excel? ›

    Vlookup with dynamic arrays

    Because the formula is entered just in one cell, you needn't worry about locking the ranges with absolute references. As for performance, dynamic arrays work even faster than Excel tables!

    Why is VLOOKUP slower than INDEX match? ›

    But if your worksheets contain hundreds or thousands of rows, and consequently hundreds or thousands of formulas, MATCH INDEX will work much faster than VLOOKUP because Excel will have to process only the lookup and return columns rather than the entire table array.

    What is the downside to Xlookup? ›

    Disadvantages of XLOOKUP

    Just like VLOOKUP, XLOOKUP can only return the first match it finds. This can cause problems if you have records with the same data in the lookup array.

    What does VLOOKUP return if it doesn't find a match? ›

    For example, your lookup value doesn't exist in the source data. In this case there is no “Banana” listed in the lookup table, so VLOOKUP returns a #N/A error.

    Why is VLOOKUP not picking up exact match? ›

    Problem: The exact match is not found

    Solution: If you are sure the relevant data exists in your spreadsheet and VLOOKUP is not catching it, take time to verify that the referenced cells don't have hidden spaces or non-printing characters. Also, ensure that the cells follow the correct data type.

    Why do vlookups sometimes not work? ›

    A Column Has Been Inserted

    The column index number, or col_index_num, is used by the VLOOKUP function to enter what information to return about a record. Because this is entered as an index number, it is not very durable. If a new column is inserted into the table, it could stop your VLOOKUP from working.

    What are the three rules for VLOOKUP? ›

    The VLOOKUP function consists of three required arguments, in the following order: lookup value, table array, and column index number. The lookup value is the value for which you want to find matching data and must appear in the first column of the lookup table; it can be a value, a text string, or a cell reference.

    Is VLOOKUP ever better than Xlookup? ›

    Overall, XLOOKUP is a far superior option to VLOOKUP as it has much greater flexibility.

    Is it advisable to use VLOOKUP function rather than INDEX and match functions in Excel? ›

    VLOOKUP must be utilized for looking into values from Left to Right. INDEX MATCH can look into the qualities from Left to Right as well as Right to Left. VLOOKUP just can query through vertical lines, for example, segments, and not through columns. INDEX MATCH can query values through lines as well as segments.

    Is VLOOKUP obsolete? ›

    VLOOKUP is an obsolete function inherited from Lotus-123. There is much better in Excel, more powerful and less limited, it is INDEX/MATCH. INDEX/MATCH replaces all lookups functions (VLOOKUP, HLOOKUP and LOOKUP).

    Which lookup is better in Excel? ›

    The VLOOKUP function in Excel is a powerful function used to lookup data in a table organized vertically. It looks down the left column of a range to find a value.

    What is the difference between VLOOKUP and find match? ›

    In its simplest form, the VLOOKUP function says: =VLOOKUP(What you want to look up, where you want to look for it, the column number in the range containing the value to return, return an Approximate or Exact match – indicated as 1/TRUE, or 0/FALSE).

    What are the disadvantages of VLOOKUP function? ›

    Limitations of VLOOKUP in Excel

    It cannot search horizontally. Limited to exact or approximate matches: VLOOKUP can only perform exact or approximate matches. It cannot perform other types of matches, such as partial matches or wildcard matches, without additional manipulation.

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