WHAT PROBLEM DOES IT SOLVE FOR YOU AND WHAT WOULD OTHER USERS NEED TO KNOW TO KEEP INFORMATION CURRENT?

I am not sure what he is exactly looking for which is why I need some help.
We are to design a workbook using excel spreadsheet. This is the functional workbook.

Must have data presented in charts
Must have tables to input data
Must use multiple sheets (5?)
Formulas must be designed that calculate accurately

1.) WHAT PROBLEM DOES IT SOLVE FOR
YOU AND WHAT WOULD OTHER USERS NEED TO
KNOW TO KEEP INFORMATION
CURRENT? – Keeps track of record holders and whether or not he has rode them?

2.) DESCRIBE SOME OF THE FEATURES YOU
HAVE LEARNED IN THIS COURSE THAT
YOU THINK WILL HELP YOU IN THE
FUTURE.