What is the function of the 'SUMIF' formula in Excel?

The 'SUMIF' formula in Excel is designed to add up the values in a specified range that meet certain criteria. This means that if you have a range of numbers, and you want to calculate the total of those numbers that meet specific conditions (for example, adding only the sales figures for a particular product), 'SUMIF' allows you to do that efficiently. You provide it with a range to evaluate, a criterion that determines which cells should be considered in the sum, and the range of values to sum. This makes it a powerful tool for data analysis and reporting, allowing users to derive meaningful insights from their datasets by focusing on relevant subsets of data.