Final answer:
For quick ad-hoc analysis of data within Microsoft Dynamics 365, the 'Excel Online' option is preferred due to its ability to work with live data and support for immediate updates and collaboration.
Step-by-step explanation:
If you need to provide quick ad-hoc analysis of data from within the Microsoft Dynamics 365 environment, the best option to use would be Excel Online.
This option allows you to work with live data directly within the browser, offering the ability to perform data analysis without leaving Dynamics 365.
It's a convenient feature for when rapid insights are necessary and you do not require a static snapshot of the data. Unlike the other options, Excel Online supports collaborative work and immediate updates.