title: Excel: multiple word replacement with a lookup matrix
body: <p>I have a list with words ("big list"). I want to replace certain words from that list with other pre-defined words ("replace with"). I'm using "checklist" to tell the formula which words to replace. This works with ONE word per replacement group. </p>
  
  <p>However I need to use multiple replacement words as depicted in the bottom example. I thought I might be able to use the checklist matrix match number somehow, but I can't get it to work. Any ideas?</p>
  
  <p><img src="https://i.stack.imgur.com/F1jV2.png" alt="enter image description here"></p>
  
  <p><strong>EDIT:</strong> I expanded the answer below to catch empty cells - These don't work with the match: <code>=IF(ISBLANK(A17),"EMPTY",IF(ISERROR(MATCH(A17,B$17:B$20,0)),A17,INDEX(C$17:C$20,MATCH(A17,B$17:B$20,0))))</code></p>