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If you want to add labels to the bubbles in an Excel bubble chart, you have to do it after you create the chart. Mary Ann Richardson explains what you need to do to add a data label to each bubble.
How to Add Paragraph Breaks in Cells in Excel for OS X. Because Excel's primary purpose is to display, organize and calculate numerical data such as your business' profits or expenses, the "Enter ...
If you want to parse strings such as "First Last" into separate columns, you don't need to use fancy formulas. Excel has a tool that makes the job a snap.