Make a Mistake So, there is a Logical formula in Column E.  IFERROR Logical formulas are binary. They only have two answers: Value if TRUE, Value_If_Error. This formula shows the data from Cell B2, the Value if TRUE. What do you see if there is a mistake?   4. Try it: Make a Mistake Select Cell C2. The HLOOKUP formula should be available in the Formula Bar. Edit the Name: Change Terms to Term 5. What Do You See? Changing the Named Range created an error in Cell C2. By definition, #NAME? means that Excel cannot find that Name in the Name Manager.   What Else Do You See? The IFERROR Formula in Cell E2 now shows the Value_If_Error: No Data Available. Click UNDO to remove the error test.