How to enable view in excel sheet option for report view of reports in Rational Insight 1.1.1

Go into the "Report view" tab of the report view and in the "Report options" section override the default values if the default is not Excel and set the format to one of the Excel formats.  If you then run and save the report it will be saved in Excel format. 
If you schedule the report view to run (e.g. every day or weekly), then you can select one or more output formats to be saved for the report view.  You can also send out an email when the scheduled report view runs.