How is the LOOKUP (table) function primarily used?

The LOOKUP (table) function is primarily utilized to retrieve specific values from a dataset based on a defined relationship or key. This function is particularly useful when working with tabular data, where you can search for a value within one column and then return a corresponding value from another column in the same row. This allows users to efficiently associate and reference related data without needing to manually cross-reference datasets.

In practical applications, this function can enhance data analysis and enable dynamic reporting by allowing users to quickly obtain relevant information based on specific criteria. This functionality is particularly valuable in scenarios such as inventory management, customer data retrieval, and price lookups, where seamless access to associated values is essential for effective decision-making.