The MONTH function is a date and time function which returns the month number from 1 to 12 from a valid date formatted value.

This is the format of the MONTH function:

=MONTH(DATE VALUE)

Here is an example of the MONTH function:

=MONTH(43335) = 8 

This function is valuable when a multi-step analysis involves extended periods of time, and will be summarized across these periods. Any analysis which can be plotted monthly while keeping a degree of precision benefits from the ability to easily assign a value to the month of occurrence in a raw dataset.

An example of a functional implementation of this would be performing a summary of annualized costs, sales, revenue, and profit across a division or business unit. Assuming that all the accounting and sales information is dated (as it should be) then you will be able to roll up the values for each degree of analysis into their monthly components.

ex: All date information is located in column B, starting in row 2

=MONTH(B2)