IFERROR function in excel is a logical function. This function is used in case a formula produces an error. With this one can use a customized value if an error is displayed. It checks for errors like #VALUE! , #NUM! , #N/A! , #REF! , #NAME! etc. If no error is found IFERROR returns the calculated value of the formula. It is a good alternative to complicated nested IF function.
- Value- Value whose error has to be checked.
- Value_if_error- Custom value to be retrieved if error is found.
- It checks for errors like #VALUE! , #NUM! , #N/A! , #REF! , #NAME! etc.
- If value argument is left blank, it is used as a blank string and not as an error.
- If value_if_error argument is left blank, then if there is an error, it is displayed as a blank message.
- It can also be used as an array formula.
In the following example, cost/quantity is calculated by using formula in column D. In case of Column A6/B6 and A9/B9, formula displays an error. Then by using IFERROR function in column E, a custom value of 0 is put in place of the error displayed.