Excel 2003 data lists are particularly useful when you're adding new columns that contain calculations. For example, say you've got a list with three columns: Product ID, Model Name, and Price. If you want to add a new column that tracks the discounted price of each product (say, 90 percent of the regular price), a data list is a great timesaver. Once you've created the new discount price column, Excel has the smarts to automatically insert the formula into every new record you add, as shown in Figure 13-12. Sadly, this convenience isn't offered to Excel 2002 users (although they can still get the job done with the Copy and Paste commands).
Figure 13-12. This worksheet shows a new item in the process of being entered. Even though only the Product ID has been entered so far, Excel automatically inserted the formula for calculating the discount price (in cell D7).