The MIN function is fully automatic - it returns the smallest value in the numbers provided. In this case, we give MIN function two values:
and MIN returns the smaller value.
Elegant alternative to IF
The MIN function can be a compact and elegant replacement for the IF function. For example, the formula above can be written with IF like so:
However, the MIN version is 6 characters shorter (11 vs. 17), and contains no redundant references, so it is less prone to errors.