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Double-click the Excel document in which you want to insert a hyperlink. You can also open a new document by double-clicking the Excel icon and then clicking Blank Workbook. This should be a cell into which you want to insert your hyperlink. This tab is in the green ribbon at the top of the Excel window. Clicking Insert opens a toolbar directly below the green ribbon. If you're on a Mac, don't confuse the Excel Insert tab with the Insert menu item that's in your Mac's menu bar. It's toward the right side of the Insert toolbar in the "Links" section. Doing so opens a window. It's on the left side of the window. Type the text that you want to see displayed into the "Text to display" field. If you don't do this, your hyperlink's text will just be the linked cell's name. This will create your link in the selected cell. If you click the hyperlink, Excel will automatically highlight the linked cell.
Open an Excel document. Select a cell. Click Insert. Click Hyperlink. Click the Place in This Document. Enter the hyperlink's text. Click OK.