One of the most useful qualities of Excel is the ability of the user to create a model using the many formulas available. The user can then change the input values of interest and see how those changes affect the end result or output variables.
Below are descriptions of some of the tools available in Excel, instructions on how to use them, and links for more information.
This feature can be used to combine data contained in different worksheets using the function of your choice (sum, average, etc.) Simply click on "data", and then "consolidate". Be aware however, that the output values will not automatically recalculate if the values change in the input cells.
This function will find a value in a table based on what categorical values you specify for row and column.
In Microsoft Word, you can start a new worksheet within the document. Simply click on "insert", "object", and select "Micosoft Excel Spreadsheet". Existing spreadsheet data can be added to a Word document by using "copy" and "paste" or "paste special". You can also do this by inserting an object displaying the spreadsheet itself or an icon that can be clicked on to access the spreadsheet.
There are many, many more tools and special features Excel has to offer, including a number of Data Analysis tools, Solver, Goal Seek, and Decision Trees. Although there is not adequate space here to address all of Excel's abilities, the link below can provide you with more information regarding Microsoft Excel.