A spreadsheet is a grid of rows and columns used to organize numerical and financial data. It consists of worksheets that contain cells identified by their row and column intersections. Formulas can be entered into cells to perform calculations on the data. Common operations in spreadsheets include inserting additional worksheets, renaming sheets, navigating between cells using arrow keys or the mouse, and entering formulas following the standard order of mathematical operations. Spreadsheets allow users to easily calculate, analyze, and compare large sets of data.