Very useful Formula field

Formula fields are pretty useful type in my opinion. It helps us define some values in a field using existing values, but defining them as we want. 

How to do:

Start just like you create any other field, and select Formula within the type selection.

Then intelligence will help you build your own formula. Start clicking Ctrl and Space bar to start with existing field.

Example

Suppose I have below status codes in Contact entity. 

If we need to pass instruction based on the values, we can use below Formula field to be used in Email.

Switch('Status Reason',
  Blank(), "",
 'Status Reason (Contacts)'.Inactive,"Redirect to Sales Team",
 'Status Reason (Contacts)'.'Not Verified',"Seek Approval from Manager",
 'Status Reason (Contacts)'.Verified,"Ready send Stater Pack"
)

This is just a one simple example. 

References;

Introduction: https://www.spguides.com/dataverse-formula-column/

Reference to all methods: https://learn.microsoft.com/en-us/power-platform/power-fx/formula-reference-formula-columns

Some limitations: http://powerappsguide.com/blog/post/dataverse-formula-columns