Datedif function in Excel for data analysis
Businesses that trade in products will love the ‘datedif’ function because it can help find the number of days, months or years the product was in the store before your business was able to sell the product. This can be extremely important in high end high value products that have a niche market and depending on the time taken to sell the product the business may make more or less profit. The ‘datedif’ function can help guide your marketing efforts. The Excel training video below highlights the important concepts of the function.
The syntax of the DATEDIF Function. It returns the interval in years, months or days.
=DATEDIF(Earlier Date Cell Address, Later Date Cell address, “alphabet”)
For years we use “y” as alphabet
For months we use “m” and “d” for days.
Calculate the Difference Between Two Dates in Excel