Named Ranges

Named ranges are the secret to linking workbooks and formula reference. Named ranges allow you to identify a cell or range of cells to refer to by name like "MyCell" instead of by absolute cell names like "A1". This is especially nice when linking workbooks. For example, let's say you have a value in cell B2 of the Source workbook that you want to use in a Destination workbook. First, you name cell B2, "MyValue" by selecting Insert, Name, Define. Now in your destination workbook, refer to "MyValue" instead of "B2". That way, you can change the structure of your Source workbook, like inserting a row above row 2, your value will move to row 3, thus occupying cell B3 and the Destination workbook can correctly find the value because it looks for "MyValue" and not cell B2. Besides using named ranges when linking workbooks, they are nice in formulas because they make your formulas easier to understand. For example, which is easier to understand, "=$A$1*C5" or "Commission_rate * January_sales"?

Named Ranges