Ranking Functions are useful to provide ranking on the table columns based on the value stored in it. Say, for example, let us say a table is having students id and their Total Marks as separate columns. Now, it is meaningful if we apply the these function on the Total Marks column rather than Student ID column. With these Functions, we can easily find 2nd maximum, or 4th maximum marks. The Ranking Functions are available in SQL 2005 and later versions.