Working with Formulas 
A formula (also known as an expression), is a short statement used to determine the value or the behavior of different data operations. Formulas are one of the keys that enable you to flexibly interact and work with your data.
In technical terms, an expression is a combination of identifiers, functions, operators and values that define a value (or condition) to apply to particular data operation. In layman's terms, formulas offer an ad hoc way to express what you want to do with your data.
Example Formulas
For instance, in a calculated field, if you have two numbers and want to calculate the percentage of two values ("Amount" and "Total"), you could use the following formula:
(Amount / Total) * 100
Or, if you wanted to find out if a field ("Field1") of text contained the word "test", you could use the following formula (which would result in a Boolean "true" or "false" answer):
contains(field1,"test")
Or, if you wanted to build on the previous formula, but specifically want to show the word "Yes" if "test" was in the field or "No" if it wasn't, you might use the following formula:
iif(contains(field1,"test"),"Yes","No")
Learn More
To learn about formulas and how they are used, please click on one of the links below:
Functions Used in Formulas (Reference)
