XLOOKUP
The modern lookup that replaces VLOOKUP.
Why planners need it
One function for exact lookups, lookups to the left, and a built-in "if not found" value — cleaner and harder to break.
Syntax
=XLOOKUP(key, lookup_range, return_range, [if_not_found])
Worked example
Look up a queue’s SL target, with a safe default:
=XLOOKUP("Sales", Queue, Target, "not set") → 80%, or "not set" if the queue is missing.
Watch out: Only in Microsoft 365 / Excel 2021. For older versions use INDEX+MATCH. The 4th argument saves you wrapping in IFERROR.