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SUMIF is a useful Excel function for adding values that meet specific criteria. In the tutorial, a table of data is used as an example, with a criteria of 2000 set in the Criteria column. The SUMIF function takes 3 parameters: the range of cells to apply the criteria, the criteria itself, and the range of values to sum. In this case, the range is A2:A6, the criteria is 2000, and the values to sum are in the Value column.