VLOOKUP

VLOOKUP is best use with multiple sets of data with a common key (the lookup value). It allows for returning the correct value - can be text, number, automatically. With this function the user can avoid manually searching the associated value and also the updating every time when the underlying data has changed.

VLOOKUP can be used in combination with other formulas as SUM, AND, IF....etc. And you can use a VLOOKUP on top of an existing VLOOKUP as well.

A limitation of VLOOKUP is only the data from the first relevant row in the data set can be retrieved. In case there are more than one row having the same Lookup value but with different target data, those appear after the first successfully lookup row will be ignored.

To prevent the problem the Lookup value on the target needs to be either unique or amendment be made (e.g., by adding a suffix) so it can always return true associated value

Another limitation of VLOOKUP is if the value to be looked up cannot be found, an "N/A" will be returned. This is okay if no further processing of the result is needed. If the target result is a number and a grand total of all the value is needed then it will cause problem.