Excel MIN Function: A Comprehensive Guide

The MIN function in Excel returns the smallest value in a set of numbers. This fundamental statistical function is essential for data analysis, performance tracking, and finding minimum values.

Quick Overview

• Function Category: Statistical
• Function Version: All Excel versions
• Skill Level: Beginner
• Return Value: Number
• Compatibility: All Excel versions

Advantages of Using MIN

1. Minimum value finding
2. Performance analysis
3. Data comparison
4. Threshold detection
5. Range analysis

Syntax and Basic Usage

=MIN(number1, [number2], ...)

Parameters:

• number1: First number or range
• [number2], ...: Additional numbers or ranges (optional)

Example 1: Basic Usage

=MIN(1,2,3,4,5)  // Returns 1
=MIN(A1:A10)  // Returns smallest value in range

Real-World Applications

1. Price Analysis

=MIN(Price_Range)  // Find lowest price

2. Performance Tracking

=MIN(Performance_Scores)  // Find lowest score

3. Threshold Detection

=IF(Value<MIN(Historical_Range), "New Low", "Normal")

Common Errors and Solutions

1. #VALUE! Error

   • Cause: Non-numeric values
   • Solution: Ensure numeric input

2. Zero Results

   • Cause: Empty range
   • Solution: Check data range

3. Incorrect Results

   • Cause: Hidden rows/columns
   • Solution: Consider all data

Tips and Best Practices

1. Error Handling

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   =IFERROR(MIN(Range), 0)  // Return 0 if error
   

2. Dynamic Ranges

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   =MIN(OFFSET(A1,0,0,COUNTA(A:A),1))  // Dynamic range
   

3. Conditional Minimum

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   =MIN(IF(Criteria_Range=Criteria, Value_Range))  // Conditional min
   

Practice Exercises

1. Basic Analysis

   • Simple minimum
   • Multiple ranges
   • Conditional min

2. Advanced Applications

   • Performance tracking
   • Data analysis
   • Threshold detection

Key Takeaways

1. Minimum finding
2. Range analysis
3. Performance tracking
4. Data comparison
5. Statistical analysis

Common Combinations

1. With MAX

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   ={MIN(Range), MAX(Range)}  // Range bounds
   

2. With IF

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   =MIN(IF(Criteria, Values))  // Conditional minimum
   

3. With OFFSET

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   =MIN(OFFSET(A1,0,0,ROWS(Range),1))  // Dynamic minimum
   

Advanced Applications

1. Performance Dashboard

=LET(
    data_range, A1:A100,
    current_value, B1,
    historical_min, MIN(data_range),
    percent_of_min, current_value/historical_min,
    threshold, 1.1,
    performance_status, IF(percent_of_min<=threshold, "Good", "Need Improvement"),
    {historical_min, percent_of_min, performance_status}
)

2. Rolling Minimum

=LET(
    data, B1:B100,
    window_size, 10,
    current_row, ROW()-ROW($B$1)+1,
    window_range, OFFSET(B1, MAX(0,current_row-window_size), 0, MIN(window_size,current_row), 1),
    MIN(window_range)
)

Business Applications

1. Price Analysis

• Lowest prices
• Cost optimization
• Competitive analysis

2. Performance Metrics

• Minimum standards
• Baseline metrics
• Quality thresholds

3. Quality Control

• Minimum limits
• Tolerance ranges
• Specification bounds

Next Steps

1. Practice calculations
2. Analyze data
3. Build dashboards
4. Track minimums

Get Help

Having trouble with the MIN function? Feel free to:

• Leave a comment below with your question
• Check our Excel Formula FAQ section
• Join our Excel community for more tips and tricks

Remember: The MIN function is fundamental for finding lowest values and analyzing performance in Excel.

Last updated: January 2025 - Keeping you up to date with the latest Excel best practices and techniques.

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