The FLOOR function rounds a number down to the nearest multiple of a specified value. This function is commonly used to round down a number to the nearest integer, which can be used to apply standard rounding rules or to round down a number to the nearest multiple of a given value.

For example, the function can be used to round down an amount to the nearest multiple of 5 or 10. This is useful for creating a discount table or performing calculations involving multiples of a certain number.