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Answer :
There are multiple ways to reference data from another workbook in your active workbook, but one way to do this is by using the external reference or link function.
To use the external reference or link function, you need to follow the steps below:
1. Open both the source workbook (the workbook with the data you want to reference) and the destination workbook (the workbook where you want to use the referenced data).
2. In the destination workbook, select the cell where you want to place the referenced data.
3. Type the equal sign (=) to start a formula.
4. Switch to the source workbook and select the cell or range of cells you want to reference.
5. Press Enter to close the source workbook.
6. The formula in the destination workbook should now show the external reference or link to the source workbook, which should look something like this: [WorkbookName]SheetName!CellReference.
7. Press Enter to complete the formula and show the referenced data in the destination workbook.
Note that if the source workbook is closed or moved to a different location, the external reference or link may not work properly. You may also need to adjust the formula if you want to reference data from different worksheets or workbooks.
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To reference data from another workbook in Excel, use an external reference which includes the workbook, sheet, and cell address. For example, [RiskReturn.xls]OptimalChoice!B6 references cell B6 in the OptimalChoice sheet of the RiskReturn.xls workbook. This allows the active workbook to automatically update the referenced data.
One way to reference data from another workbook in your active workbook in Excel is by using external references. An external reference specifies the named workbook, the sheet, and the cell or cell range. For example, to reference cell B6 in the OptimalChoice sheet of the RiskReturn.xls workbook, you would use:
[RiskReturn.xls]OptimalChoice!B6
Here’s a step-by-step explanation on how to create an external reference:
- Open both workbooks: Ensure that both the source workbook (from which the data is being referenced) and the destination workbook (where the data will be referenced) are open.
- Select the destination cell: In your active workbook, select the cell where you want the referenced data to appear.
- Enter the formula: Type an equal sign (=), and then navigate to the source workbook and select the cell or range you want to reference. Excel will automatically fill in the external reference format.
- Finalize the reference: Press Enter to complete the reference. The data from the source workbook should now appear in your active workbook.
This method can save significant time and ensure accuracy, especially when dealing with large datasets that may need to be updated frequently.
