[kemofo]

"It allows the storage and retrieval of structured data."

Can you define datatypes for Excel rows and columns? Can you define constraints on the data? If you can then I say that data is on it's way to being structured. To me, Excel is good for a quick and dirty, but using it for reliable analysis is bad practice because of its fragility. But in reality, people use the wrong tools for the job all the time and their firms and clients pay the price. Excel is the standard in financial analysis I agree, maybe that's part of the reason our financial system is so fragile.