Many articles by different experts laud the superiority of INDEX/MATCH over VLOOKUP. I decided to do a shootout myself and see whether it really makes sense to use INDEX/MATCH in place of VLOOKUP purely from the perspective of speed / time taken. I am not considering any other aspect but speed / time.
Following is the methodology to test -
1. The worksheet 100000 contains 100001 records. Column A is Numbers and column B is Text. Column C is alpha-numeric which is the result field.