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The lookup function in Excel can save you a lot of time and effort, but only if you actually know how to use its many forms ...
Vlookup used to create an array in memory that held the full range of the table. So the smaller you can make the array, the less memory the function will use.
In such cases, Excel's LOOKUP function can be extremely useful. It allows you to search for a value in a range of cells and return a corresponding value from another range.