What is a Formula
A formula is a type of equation. An equation says that two things are equal, that is why in Excel a formula always starts with ‘=’. A formula shows the correlation between two or more variables.
A Formula in a Spreadsheet
A formula in a spreadsheet can be built up from the following components:
A function in Excel is also a type of formula, but it is preset to help perform mathematical, statistical and logical operations. A formula can contain one or more functions.