IF functions returning *awaiting data* if the cell is blank

chealy79 

Yes, IFS would give a 'cleaner' formula

= IFS(
    value = "",       "awaiting data",
    value > capacity, "over capacity",
    value = capacity, "at capacity",
    value < capacity, "under capacity"
  )

Here 'value' is a defined name applied to the entire list of data in column F and 'capacity' is the content of cell G3 or an array.

In general, I would try to avoid having empty records awaiting data.  It is usually better to use an Excel Table that will extend as data is added.