DevTest supports the concept of iterating over Excel data, and, for each row in the spreadsheet, performing some action. This is done by setting up the Excel data as a Dataset and implementing a for loop.
An example using a CSV dataset is shown in the LISA_HOME/examples/load-csv-dataset-web.tst Test Case. Generally, CSV formatted files are more performance oriented than Excel files.
Bear in mind, DevTest does not open the Excel files using MS Excel; therefore, the extra content in the file (such as calculations, references, formulas, row, text and cell formatting, etc.) is just loud noise to DevTest which is only interested in the column data.
As MarcyNunns points out, some have created customizations that access Excel data in more dynamic ways.