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The Corporate Finance Institute ExcelSMALLGet the nth smallest valuearraykWhat is the SMALL Function?The SMALL Function is categorized as a Statistical function. It will returnnumeric values based on their position in a list ranked by value. Essentially, itcalculates and returns the k smallest value in a dataset.In financial analysis, the SMALL function can be useful in finding the smallestvalue in a given set of values. For example, if all salespersons are given thesame target, we can find out which one achieved the sales target in theshortest time for a given year.Formula=SMALL(array,k)The SMALL function uses the following arguments:1. Array (required argument) – It is an array or range of numerical data forwhich we want to find the k smallest value.2. K (required argument) – It is the smallest value from the given array.How to use the SMALL Function in Excel?To understand the uses of the SMALL function, let us consider a few examples:corporatefinanceinstitute.com202
The Corporate Finance Institute ExcelExampleSuppose we are given the following data about several runners, along withtheir start and finish times:We can use the SMALL function to retrieve the nth lowest value from a set ofdata, that is, the first, second, or third fastest times in a race.The formula to be used in finding the winner will be:corporatefinanceinstitute.com203
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