I will try to explain it to you in a way I understood it. Hope it helps.
IS BLank:
Its a function whcich validates whether the field has some value or not. Value can be some digit( 0-9), alphabet( a-z A-Z), special character ( %,$,--). If your field contains any of them then this function will return false. If it contains Blank (" ") or no value then it will return True.
ISNULL:
This function will consider BLank (" ") as some value. And if your field has Blank(" ") then it will return false considering 'Blank' also as some value.
Further Explanation:
Use ISBLANK instead of ISNULL in new formulas. ISBLANK has the same functionality as ISNULL, but also supports text fields. Salesforce will continue to support ISNULL, so you do not need to change any existing formulas.
A field is not empty if it contains a character, blank space, or zero. For example, a field that contains a space inserted with the spacebar is not empty.
Use the BLANKVALUE function to return a specified string if the field does not have a value; use the ISBLANK function if you only want to check if the field has a value.
If you use this function with a numeric field, the function only returns TRUE if the field has no value and is not configured to treat blank fields as zeroes.
Hi,
Please refer the below link
http://salesforceapexcodecorner.blogspot.com/2011/06/diffrence-between-isnull-and-isblank.html
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I will try to explain it to you in a way I understood it. Hope it helps.
IS BLank:
Its a function whcich validates whether the field has some value or not. Value can be some digit( 0-9), alphabet( a-z A-Z), special character ( %,$,--). If your field contains any of them then this function will return false. If it contains Blank (" ") or no value then it will return True.
ISNULL:
This function will consider BLank (" ") as some value. And if your field has Blank(" ") then it will return false considering 'Blank' also as some value.
Further Explanation:
Thanks!