Excel's data format is everywhere in the business world, and more often than not, you'll wind up getting chunks of data from people dumped into an Excel file. Sure, CSV tends to be the "lowest common denominator" exchange format for data between software, but that's quirky for its own reasons.
One way to pull data off Excel using Python is to use the win32 extensions and go through COM. However, this requires you to have a copy of Excel installed, and isn't all that fast if you're doing large batches of data grabbing.
The other way is to use the wonderful xlrd package. xlrd is great because it's pure python, can run anywhere Python 2.1 and higher runs. It handles many of the quirks of the data format (such as the date epochs, encodings). Finally, perhaps most important for people in the business world, it's BSD licensed, so we can include it in any products we make without running into any GPL conflicts.