Is INDEX MATCH Faster Than VLOOKUP?

When dealing with large datasets in Microsoft Excel, deciding between using INDEX MATCH and VLOOKUP can significantly impact the performance and efficiency of your work. In many cases, INDEX MATCH is faster than VLOOKUP due to its flexibility and robustness. However, the difference is not always significant, and there are proven methods to enhance the speed of data retrieval from lookup tables.

Evaluating the Performance of INDEX MATCH vs VLOOKUP

INDEX MATCH is often preferred for the following reasons:

Efficiency

One of the key advantages of INDEX MATCH is its efficiency. Unlike VLOOKUP, which requires the lookup value to be in the first column of the range, INDEX MATCH can look up values in any column. This flexibility can reduce the size of the data range you need to work with, potentially speeding up calculations.

Column Insertion

INDEX MATCH is more robust than VLOOKUP when it comes to dynamic datasets with column insertions. If you insert a new column before the lookup column, you need to adjust the column index number in VLOOKUP. In contrast, INDEX MATCH is not affected by such changes, making it more reliable in dynamic scenarios.

Array Formulas

INDEX MATCH can be used in array formulas, enhancing performance in certain scenarios. While VLOOKUP does not support array formulas, combining INDEX and MATCH offers more flexibility and can be particularly useful for complex lookups.

Scalability

As datasets grow larger, the performance difference between the two formulas becomes more pronounced. With INDEX MATCH, you can maintain better speed even with substantial data volumes.

Practical Comparison of VLOOKUP and INDEX MATCH

Here’s a quick comparison of the two formulas:

VLOOKUP usage:

VLOOKUP(A2, B2:D100, 2, FALSE)

INDEX MATCH usage:

INDEX(B2:B100, MATCH(A2, C2:C100, 0))

While VLOOKUP is simpler for straightforward lookups, INDEX MATCH offers greater flexibility and performance advantages for larger datasets or more complex lookup scenarios.

Optimizing Data Retrieval with Techniques

Even if the difference between INDEX MATCH and VLOOKUP is not significant in most cases, there are several techniques to enhance the speed of data retrieval from a lookup table:

Return More Than One Column of Data

If you need to return more than one column of data, you can create an auxiliary column with a MATCH formula to return the index number. Then, use INDEX formulas referencing the cell with the MATCH to return your data.

Sort the Lookup Table

Sorting the lookup table by the lookup column in ascending order allows you to use the binary search form of VLOOKUP or MATCH. For a 100,000 row lookup table, a VLOOKUP or MATCH looking for an exact match would need to search 50,000 rows on average. In contrast, the binary search form requires only 18 rows on average. Even if you need to search twice, you still get over 100 times the improvement in speed with binary search.

Example: IF(VLOOKUP(A2, LookupColumn1:A100, 1, FALSE) A2, VLOOKUP(A2, LookupTable, DesiredColumn, FALSE), IF(MATCH(A2, LookupColumn1, 0) 0, "", MATCH(A2, LookupColumn1, 0)))

Consider Using FastExcel Add-in

For faster results, consider using

Microsoft's Lookup Function Improvements

In 2018, Microsoft improved its lookup functions, including VLOOKUP and HLOOKUP, by indexing the lookup column. This allows you to find the matching value immediately rather than testing half of the column on average to find an exact match. For lookup tables with hundreds of thousands of rows, you might experience a 1,000-fold improvement in speed.

These improvements are available in Excel 2016 on the Office 365 subscription and the Excel 2019 perpetual license version.

Conclusion

In summary, while VLOOKUP is simpler for straightforward lookups, INDEX MATCH offers greater flexibility and performance advantages, especially for larger datasets and complex lookup scenarios. By employing these techniques and leveraging modern Excel features, you can significantly enhance the speed and efficiency of your data retrieval processes.