MS Excel is a spreadsheet program used to create grids of text, numbers, and formulas for calculations, which is valuable for businesses to record expenses, income, and plans. It can also display data visually in charts and pull in external data. MS Word is a word processing program used to create documents that will look consistent across devices and paper, making it useful for businesses and individuals to write letters, resumes, notes, and other materials. Excel is suited for tasks involving grids, text, numbers, and calculations, while Word is designed for consistent word documents.