RE: Lookup tables
The VLOOKUP function is used to extract information from data that is stored in a series of columns.
Excel uses a lookup value which you type into a cell in the spreadsheet - it will look for the value you type in, in the leftmost column of the lookup area you select. It will then extract and display the information related to the lookup value you have entered, from the column in the table array you specify.
An example of when this might be used is if you have information about invoices stored in columns (invoice number, date, company the invoice was issued to, their purchase order number); and you want to be able to type in the invoice number (your lookup value) and get Excel to display the information related to this invoice number (date etc) for you. This saves you having to hunt through the list yourself to find the particular invoice details.