In other words MATCH figures out the position and INDEX returns the value at that position. Something that many users overlook is that Excel functions can be chained together and combined to make something even more powerful than the constituent parts. The INDEX function can also return a specific value in a two-dimensional range.
The INDEX MATCH function is one of Excels most powerful features.
The INDEX function actually uses the result of the MATCH function as its argument. INDEX MATCH is not a function itself in Excel rather it is a combination of two different formulae and is very powerful than VLOOKUP we will check this in short. MATCH returns the position of a cell in a row or column. The INDEX and MATCH Function in Excel can be used in combination to Lookup values much faster than VLOOKUP.