Creating spreadsheets is itself a part of information technology, so you could be teaching Excel directly. Excel is a very versatile application that can do a lot of things. It can be used to quickly demonstrate things that are not related to spreadsheets particularly. Information technology has a wide range of areas. Mathematics is a big area, and Excel can be used to help demonstrating some mathematical concepts. Before teaching someone how to write programs, being able to write formulas in Excel and create complex spreadsheets, is a good grounding for programming. Excel also has Visual BASIC for Applications as part of it, and it can be used to demonstrate programming. You can use Excel to create simple diagrams and charts that can be useful in many areas of information technology. A teacher with a good knowledge of Excel and other areas of information technology, would be able to find many ways to use Excel to demonstrate many information technology concepts.
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Almost any area of mathematics, including things like graphs, can be taught using Excel. It has many other uses though, outside of mathematics. It can be used for doing diagrams and flowcharts for example. It can be used in many areas of science. It can be used to teach databasing, though an actual database product such as Oracle or Access would be more useful. It can be used to create forms. It can be used for doing things in relation to statistics and finances. It has many other uses. Teachers with a good knowledge of Excel will find various ways of using it for many subjects that they teach.