Microsoft Excel is a commercial spreadsheet application that features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications. It has largely replaced Lotus 1-2-3 as the industry standard spreadsheet. Excel allows users to organize and manipulate data using a grid of cells arranged in numbered rows and letter-named columns. It also provides functions, charts, pivot tables, and programming capabilities to analyze and visualize data. Excel forms part of Microsoft Office and is widely used for tasks like accounting, data analysis, and reporting.