The IF function is incredibly versatile in Excel and can be used in various real-world scenarios. Here are some examples:

Sales & Finance:

1. Commission Calculations: If a salesperson exceeds their target sales amount (B2), calculate their commission rate (10%) in cell C2 using: `=IF(B2>C1,B2*C$4,0)`. (C1: target sales, C4: commission rate)
2. Loan Eligibility: Based on income (B2) and loan amount (C2), determine loan eligibility (Yes/No) in D2: `=IF(B2*2.5>C2,"Yes","No")` (This is a simplified example; actual loan eligibility involves more factors)
3. Expense Tracking: Categorize expenses (D2) based on amount (C2). If above a certain limit (B2), categorize as "High" otherwise "Low": `=IF(C2>B2,"High","Low")` (B2: limit)

Inventory Management:

4. Stock Availability: Check product availability (B2) in cell C2. If stock is low (less than 5), display "Reorder" else "In Stock": `=IF(B2<5,"Reorder","In Stock")`
5. Product Pricing: Apply a discount (D2) based on order quantity (C2). If quantity exceeds 10, give a 10% discount: `=IF(C2>10,B2*0.9,B2)` (B2: unit price)

Human Resources:

6. Performance Bonus: Award a bonus (C2) based on performance rating (B2). If "Excellent," give a 10% bonus on salary (A2): `=IF(B2="Excellent",A2*0.1,0)`
7. Leave Approval: Automate leave approval based on remaining days (B2) and requested days (C2). If sufficient days, display "Approved" else "Insufficient Balance": `=IF(B2>=C2,"Approved","Insufficient Balance")`

These are just a few examples. The IF function's power lies in its ability to automate decision-making and data analysis in countless scenarios across different fields.