This is a more sophisticated substitute for the VLOOKUP or HLOOKUP formulae (which have several drawbacks and limitations). A potent collection of Excel formulae called INDEX MATCH will advance your financial analysis and financial modelling. A table cell's value is returned by INDEX depending on the column and row numbers. The location of a cell in a row or column is returned by MATCH. Here is an illustration of how the INDEX and MATCH formulas are combined. In this illustration, we use a person's name to search them up and then return their height. Name and height may both be changed because they are both variables in the calculation!