Resolved: Rank function must be used with countif
Rank function must be used with countif function otherwise you will get inaccurate rankings (when 2 companies or more have the same revenue for example)
Here is a good example for proper usage of rank function with countif:
in the below snapshot a sort of 7 companies are ranked by their revenue using RANK function only. Notice, 2 companies B and C were ranked 5th because they have the same revenue.
To overcome this, we have to count the occurrence for each revenue and add it to the rank function (and deduct 1 from the total). Notice, now the ranking for the 2 companies B and C are fixed.
See the below sanpshot to clarify this idea:
I know that the usage for this combination of functions may be beyond the scope of this course, however I believe it is worth knowing. Thank you for the great content of this course.