Which Excel feature allows for performing built-in calculations?

The feature that allows for performing built-in calculations in Excel is the function. Functions are pre-defined formulas that enable users to perform specific calculations automatically, which can streamline the process of analyzing numerical data. For instance, common functions include SUM, AVERAGE, and VLOOKUP, each serving distinct purposes for adding values, calculating averages, or retrieving data based on specified criteria.

Functions can be inserted into a cell by typing them directly or by using the "Insert Function" dialog box, which guides users in selecting the appropriate function for their needs. This capability not only enhances efficiency but also ensures accuracy in calculations, making functions a fundamental aspect of spreadsheet management and data presentation.

In contrast, the other options relate to different aspects of Excel. The "File" option pertains to file management tasks, "Data" encompasses various data-related operations and tools, and "Folder" generally refers to organizational aspects within file systems rather than specific functionalities within Excel.