You can use Excel reports with Microsoft Test Manager as described here
You need to have SQL server Analysis services turned on to make Excel reports work. The Excel gets data from the Analysis Services cube, which in turn gets data from the TFS Warehouse on a periodic basis.
Since test results, test plan and test suites are not work items, queries in Visual Studio cannot be used to build equivalent reports.
If you already have SQM Server Analysis services (installed along with TFS), to rebuild the data warehouse and the Analysis Services database
1. Open the administration console for Team Foundation.
2. In the navigation bar, click Reporting.
3. In Reporting, click Start Rebuild.
4. In the Rebuild the Warehouse and Analysis Services Databases dialog box, click OK.
Note: The warehouses will continue to be rebuilt and the data will continue to be repopulated after the Start Rebuild action finish. Depending on the size of your deployment and the amount of data, the whole process might take several hours to complete.
You can also use the RebuildWarehouse command (msdn.microsoft.com/.../ee349264.aspx)
To configure Warehouse settings
Browse to http://servername:8080/tfs/TeamFoundation/Administration/v3.0/WarehouseControlService.asmx and use the GetSetting and ChangeSetting webservices to get/ set warehouse rebuild settings.