Excel: Defining parametric names for cells

It should come as no surprise to anyone who has read my blog for a while that I use Excel on a relatively regular basis. Wherever possible, I like using parameters, rather than addressing something directly. There are a few reasons for this. It makes a formula shorter, more user friendly, and quicker to write. I have a small spreadsheet, which shows some currencies and their relative exchange rates. I want to define an addressing parameter, rather than using the cell address. Here’s how:

1. Select the cell in question
2. Click the Name Box in the upper left hand side just above the spreadsheet
3. Enter the desired name
4. Hit return

To use it, simply enter the name you selected instead of the cell name. In my example below, I’ve given cell C2 the name USDNOK. The beauty of this, is that it works across all spreadsheets in a workbook. If the cell you want to address is in sheet 1, and you want to use it in sheet 2, you address it in exactly the same way.