What is Rank in Excel?
How to Calculate Rank Formula in Excel? Rank in Excel is a function that allows you to determine the rank of a value in a data set. It gives you a numeric value that represents the place of a value in a list when sorted in ascending or descending order.
Let’s say you have a list of scores for a test; the rank of a particular score will tell you its position in the list, with 1 being the highest and N being the lowest. This function can be helpful when analyzing data and comparing values in a large dataset.
What is the Rank Formula in Excel?
Excel has a built-in function for calculating rank called RANK.EQ. The RANK.EQ function delivers the rank of a number within a set of numbers. The syntax is as follows:
=RANK.EQ (number,ref,[order])
Steps to Calculate Rank Formula in Excel
Below are the steps on how to use the RANK.EQ function in Excel:
Step 1: Open an Excel worksheet and input the data set you want to rank.
Step 2: Choose a cell where you want to display the rank result.
Step 3: Type the RANK.EQ function into the formula bar.
Step 4: Input the number you want to rank. It can be a specific value or a cell reference.
Step 5: Select the range of cells you want to rank. The range contains the list of values you want to rank.
Step 6: Input the order argument. If you want the rank to be in ascending order, enter 1. If you want the rank to be in descending order, enter 0.
Step 7: Press Enter to display the rank result.
How to Calculate Ascending Order Rank Formula in Excel
How to Calculate Ascending Order Rank Formula in Excel
Note: You can also use the RANK.AVG function in Excel. This function works in the same way as the RANK.EQ function, but it assigns the average rank to values that appear more than once in a data set.
Things to Know Before Using the RANK Function in Excel
Before using the RANK function in Excel, there are a few points to remember:
- The RANK function ranks numbers based on their value, not their formatting. It means that if two cells have the same value but are formatted differently (e.g. one is formatted as a number and the other as text), they will not be considered equal by the RANK function. Therefore, ensuring that your data is formatted consistently before using the RANK function is essential.
- The RANK function assigns a rank based on the order in which the numbers appear in the data set. If two or more numbers have the same value, they will be assigned the same rank, and the next rank will be skipped.
Conclusion
Calculating rank in Excel can help analyze and sort data. The RANK.EQ function in Excel allows you to quickly calculate the rank of a value within a set of numbers. By following the given steps, you can easily calculate the rank of a value in your data set.
Whether you’re analyzing test scores, sales data, or any other type of data, understanding how to calculate rank in Excel can help you make informed decisions based on your data.
