What are Formulas in Salesforce?

Sometimes we may require the data stored in the field of an object to be the value obtained by performing few calculations on some other fields or by merging some fields and it is difficult to calculate field value for each record every time and also in few cases you may want to save the record only if it meets your requirement. So, here formula comes to the picture which will automatically determine the value of the field based on the given condition. Formulas are used in many areas in Salesforce such as Validation rules, workflow rules, process builder, etc. Users cannot change the value of a formula field manually. In this article, we will be explaining the formula field creation using formula editor and examples.