Excel is a powerful tool. I have found PivotTable to be one of the most valuable capabilities in Excel for analyzing data.
A significant new enhancement to PivotTable is PowerPivot particularly when data is in multiple databases/in different systems even from the web.
PowerPivot is a free MS plugin not included in Office 2010. Click here to learn more, try hands on, watch demo or download.
Or click here for an excellent article on these capabilities.