I wrote a formula to return Not Found if an error is found. However I also what it to return an abbreviation for some couple of matches that have long names instead of the full descriptions.
For example =IFERROR(INDEX({Degree}, MATCH([Primary Column]@row, {Name}, 0)), "Not Found. Please update"), IF(INDEX({Location}, MATCH([Primary Column]@row, {Name}, 0)) = "Master of Business Administration", "MBA")