EXACT Function

Using EXACT function in Excel to compare text or data
Using Exact function in Excel to compare text or data can be quite useful when you have an old data list and you wish to compare it with an updated list from your database administrator. The function ‘Exact’ in Excel compares two text strings and returns TRUE if they are exactly the same, FALSE otherwise. EXACT is case-sensitive but ignores formatting differences. Use EXACT to test text being entered into an Excel spreadsheet.
Syntax
EXACT(text1,text2)
Text1 is the first text string.
Text2 is the second text string.
Remarks
You can also use the double equals (==) comparison operator instead of the EXACT function in Excel to make exact comparisons. For example, =A1==B1 returns the same value as =EXACT(A1,B1).
The following Excel training video demonstrates the use and benefits of the ‘exact’ function while comparing an old list of emails with a newer list. Three emails out of four are outdated!

Watch the video:

Further reading:
MS Excel: EXACT Function (WS)
Excel 2010: Matching Values With EXACT Function

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