I would suggest taking it out of excel. Excel and ArcGIS have a lot of limitations and issues, such as if two people are trying to view the spreadsheet at the same time, only the person that accessed it first will be able to use it, the other would have to wait, in SQL this would not be an issue, multiple users can connect and view the data.
To clarify the view, it is somewhat like a table, there are fundamental differences between a view and a table and I'm sure some database guru might cringe at the way I am explaining it but when you connect to the SQL database that contains a view, it will show up as a "table" that you would be able to add to ArcGIS and perform whatever analysis that is needed.
Jorge