Purpose:

It will give you a random number between 0 and 1

RAND Formula breakdown:

=RAND()

Explanation 

=RAND(it will automatically choose a random number between 0 and 1)

Excel is able to create random numbers. I know you must be thinking why would someone even need random numbers?

Previously In Excel FormulasRemove Formulas in Excel

Random numbers in Excel are great to fill in a column with random values to create quick charts or to do any random Excel analysis.

It is easy to do with Excel’s RAND formula!

Working With RAND Formula

Firstly, you need to enter the RAND function in a blank cell:

=RAND()

RAND Formula

Now drag the RAND formula all the way down with the help of left mouse button to apply the same formula to other remaining cells.

After that, you will get random numbers for all the entries.

RAND Formula