sanders720,
The use of =RAND() generates a random number.
It only applies to the cell or formula you are creating.
Based on your original request, I/we interpreted your need to "randomize" entries in one field. Excel provides a SORT function, but that will only sort ASCENDING or DESCENDING not randomly.
One technique is the one I and TonyJollans offered up.
You would leave your existing data intact. You would just create a new column, and in that column drop in the =RAND() into each cell, next to your data. That completed you would define the range to include al of your data AND this additional column with the random #'s and SORT ON THAT COLUMN with the RANDOM #'s either in ascending or descending order. Do this randomizes your other data.
Now your new requirement for dealing with text. Short of writing a VBA function and then using it to assign a unique number/letter/character is out of my league, and one must assume yours if your not clear on RAND() function.
Hope this clears things up and helps.
DougCranston