In order to create a great spreadsheet, working with Excel is the way to guarantee success is to work the way Excel expects data to be laid out ie in the the most efficient way.
Excel 2007 can accommodate 65,536 rows and 256 columns, this gives an indication that data should be set up as a table with column headings going across the first row of the table and the related data laid out directly and continuously underneath your headings. Do not be tempted to insert blank cells to represent repeating data as this can have devastating effects on analysis and calculations when you move onto put your Excel to work.
It is this basic principle that gives Excel its power, if you set out your data in one continuous table you can take advantage of the many powerful tools that excel has to offer. Try not to unnecessarily spread date over multiple tables, sheets or workbooks. keep your table as basic as possible.
Always try to sort your data in logical order when you can, Excel is really powerful, but its no harm and good practice to give Excel as much of a head start when it is using its look up and reference formulas. This type of simple behaviour can increase Excels speed in analysis and calculations.
If you can avoid unnecessary complications in your Excel tables, then its full potential can be utilised and the calculations will move faster and more efficiently reducing frustration and get you faster results.