Sorry, but you cannot map Excel data in this way.
Opening a mappable table through a DBMS connections require that the remote
database contain a table named MAPINFO_MAPCATALOG. You create this table
using the DBMS Catalog tool that appears in Tool Manager.
Unfortunately, this tool does not work (and probably cannot be made to work)
with connections to Excel spreadsheets.
However, not all is lost. You can open the Excel spreadsheet directly as a
table (File->Open... and select "Microsoft Excel" from the "file of Type:"
dropdown list). After it's open as a table, you can use Table->Create
Points to create points for the table (or make the table mappable, put it in
a map window as the editable layer, and use the Drawing toolbar to manually
associate more complicated objects with each row).
Don't expect to be able to update the X and Y columns in the spreadsheet if
you associate a different point with a row.
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Spencer