Syntax
MATCH finds the position of lookup_value within lookup_range; INDEX then returns whatever sits at that position inside return_range. Because those two ranges are independent, return_range can be to the left, right, or on a different sheet entirely from lookup_range — the limitation that trips up VLOOKUP. The trailing 0 in MATCH means "exact match," which is almost always what you want here, same as VLOOKUP's FALSE.
Examples
Finds A2's position in C2:C50, then returns the value at that same position from B2:B50.
Looks up a value in column B but returns a result from column A — to the left, which VLOOKUP can't do directly.
A multi-criteria version matching on two columns at once — enter with Ctrl+Shift+Enter in older versions of Excel.
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