IF(condition1, data1, condition2, data2, ... ,data-else)


Used to insert different values according to conditions set in relation to Source value

Example:

##IF("Account Balance"<("CreditLimit"+1000),'Take Action', EQUALS("Amount", "CreditLimit"),'Send Warning','OK'):

Description:

IF "Account Balance" is less than "CreditLimit" + 1000 it will return the result "Take Action". 
IF  "Account Balance" = "CreditLimit" it will return the result "Send Warning".
Else it will return the result "OK".