Spreadsheet software allows users to enter data into a grid of rows and columns called cells. It performs calculations on this data and displays it in a worksheet. Spreadsheets make it easy to track finances, generate growth graphs, and manage budgets. They increase the speed of calculations and allow data to be easily modified and recalculated. However, spreadsheets cannot process large volumes of data and have limited programming capabilities. The key components of a spreadsheet are rows, columns, cells, and ranges of cells.