Whenever we implement formula in excel cells which contains reference to external workbook, excel create a link to refer external workbook. So, it requires all external linked excel workbooks to calculate formula whenever someone open the excel workbook with formula.
Sometimes these external workbooks may be moved or removed from the specified folder. As a result, excel ask for the linked excel workbook which is missing from linked path. this will impact on formula calculation and result into #NA values. Due to large number of workbooks that have links in them and they are getting very large.