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One trick I often use to conditionally update a field is the Boolean IIF function. IIF is basically a shorthand version of a single condition test. While the documentation suggests that you’d be performing the function against a Boolean field, you can also create the Boolean test within the expression.
For example, you’d like to populate a string type designator field based on numeric data like sales – Stores with sales numbers below $1,000,000 are high risk stores. A simple IF/THEN is a typical way to do this, but the Boolean IIF function can do the same thing and it’s much quicker to write out! See below and the attached v11.0 workflow example.