ANYTHING YOU CAN TYPE INTO a worksheet’s cell can be called data. Whenever you type something into a cell, Excel tries to determine what type of data it is. Excel recognizes three specific types of data: labels (or text), values (or numbers), and formulas (or equations). Formulas are introduced in Chapter 2, “Working with Formulas,” so for now you’ll spend time learning the differences between labels and values.
Perhaps you are creating a spreadsheet that details the number of days in each month of the year, as in Figure 1-12. The month names are labels, the days are values, and the total number of days is calculated by Excel using a formula.