Does modelbuilder have the capability to read data from an excel file and return the value back to the model ?
That would be a vague approach because in general you don't reference sheets or cells directly, but you can bring in an excel file into an Arc* table and then do your query from there Excel to table
If you format your excel sheet so it is readable as a table, yes, you can read excel directly into Model Builder as a table.
There is a tool -- Get Field Value -- which will read a value from the first row of the table into a model element you can then use as a parameter to another tool.
Understanding how to use Microsoft Excel files in ArcGIS—Help | ArcGIS Desktop
There is a very good Blog about formatting Excel files so that they can be read by ArcMap, strongly recommend you read this first if you intend to store data in Excel.
Thanks for all the answers. got it figured out !
Could you mark this question as Answered?