VLOOKUP is a function that retrieves a value from a list based on a given unique identifier. So, if you need to know what’s the price of an item with id 23, you use the VLOOKUP function to retrieve the value of price based on the unique id identifier. Although, it does sound pretty easy, you should keep it in mind that this function is best utilized in situations where your list needs to be reusable. For example, if you employ the function where every time the cashier enters the id of an item, he gets the details of the item, then it would be useful, but if you need to check the value just once, you’re better off searching the value manually from the table/data set. VLOOKUP is a database function, so it needs a key to work. We have used the ID column for our key. It must be noted that since it is an identifier, it must be a unique value for each row in your database (or table).
http://www.writeawriting.com/ms-office/vlookup-function-excel-2013-guide/
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