his is an excellent way in case you have big excel sheets and you need to move from one part of sheet to another to check or pickup data. I came out with this when I was working with excel sheets ( MS Office 2007 ) in sharepoint 2007 where named ranges are actually helpful if you want to hide one part of sheet from some people.
Named Ranges are section of excel sheets in which you select some cells and name them. Just like one the example below :
Just remember you will need to keep the ranges scope throughout the workbook else you wont be able to access them from other sheets. Now once you have created the named ranges (* you can also call them as sections ) it will be listed right on the left side of the place holder where you write the formula.
Now all you need is to click this place and move to any section of the excel sheet. Here is a small video just in case to give you a complete idea.