Is it possible to update an existing column using an expression in the Formula Tool?

The ability to update an existing column using an expression in the Formula Tool is indeed a fundamental feature of Alteryx. When utilizing the Formula Tool, users can specify an existing column and apply an expression directly to it. This capability allows for a range of manipulations, including changing values based on calculations, applying string functions, or incorporating conditional logic to modify the column's data effectively.

This feature is particularly useful for data transformation tasks, where it may be necessary to adjust values within a dataset without creating additional columns, thereby keeping the data structure streamlined. Users can choose to overwrite any existing column with the new values derived from the specified formula, simplifying the workflow.

The other options imply restrictions on what the Formula Tool can do, such as only being able to create new columns or only being able to update certain types of columns, which does not accurately reflect the flexibility provided by this tool in Alteryx.