If you maintain reports or other documents that make use of charts and data, did you know that you can create or embed Excel objects directly into Microsoft Word? You'll even see the Excel Ribbon while working on a worksheet or chart. This can save you valuable time you'd spend switching back and forth between programs.

This works in both Office 2007 and Office 2010. To quickly embed a new Excel table, Just go to the Insert tab, click the Table button and select Excel Spreadsheet:

Insert Excel Spreadsheet

This will embed a new spreadsheet table directly into Word. If you want it to show more or fewer rows and columns, just grab the bottom right corner of the object and resize it. Start entering your data or, if there's existing data you want to pull in from another source, cut and paste it in.

Excel table inside of Word

To add a chart (or other type of embeddable object), click the Object button (also on the Insert tab) to open this dialog box:

Insert Object in Word

Now select a new Microsoft Office Excel Chart, or go to the Create from File tab to select an existing workbook.