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Normally for calculations we use 'cell' addresses. For example, if we
have a value '30' in cell a1 and a value ''10' in cell b1, then we
calculate the sum of both the values in cell c1 as "=a1+b1". Now we can
name a cell, a range of cells, a range of non-continuous cells in the
same worksheet or in different worksheets. Then instead of using cell
addresses we use, for example, "=sum(salaries)" anywhere in a worksheet
to calculate the total of salaries. This shows you the power of naming
ranges. You could now select different cells having the property
'expense' in your business and just type in any cell in the worksheet
"=sum(expense)" if you named the range 'expense'. It's easier for the
user to remember names and this process is also less error prone. The
following Excel training video highlights the concept of named ranges.
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