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SUMIF is an important function in Excel for adding numbers that meet specific criteria. In the tutorial, a table of data with a Criteria column is used to illustrate how the function works. The SUMIF function takes 3 parameters: the range of cells to apply the criteria against, the criteria itself (such as a specific value), and the range of cells to sum if the criteria is met. In the example, the range A2:A6 is tested against the criteria value of 2000.