Arrayλ() is a LAMBDA helper function. Its purpose is to automatically determine if a function should process an array by row or by column based on Arrayλ's position relative to the array. If placed below, Arrayλ assumes we want to process the array by column. If placed in the same row as the array, Arrayλ assumes we want to process by row.
We can leverage Arrayλ to make commonly used functions more intuitive when applied to dynamic arrays. 5g functions that leverage Arrayλ are: SumAλ, AndAλ, OrAλ, AvgAλ, MinAλ, and MaxAλ.
I suspect my LAMBDA creator friends will point out that BYCOL and BYROW, especially the eta reduced versions of these functions, are relatively trivial to use in achieving the same result. While very true for those of us familiar with LAMBDA, 5g is about making Excel as easy to use as possible for any Excel user, especially those starting out with dynamic arrays, and so, 5g takes every opportunity, no matter how small, to make their work easier and more robust.
Arrayλ( Array, [Function], [ByCol] )
Array
(Required) A range or array to apply function to by column or by row (depending on placement).
Function
(Optional) An Excel function or LAMBDA formula to process the array with. This defaults to SUM().
ByCol?
(Optional) When used over a range of cells, this will be FALSE if this function is placed in the same row as the array. Otherwise, this defaults to TRUE. When using this function over an array that is not associated with a range, this will default to TRUE.
When Arrayλ is placed in the same row as the array's first row, it applies its function, in this case, MIN, to each row. When copied below the array it applies MIN to each column. We can use any eta reduced compatible function, such as STDEV.P, or a LAMBDA formula as Arrayλ's function.