Not automatically, but it can be done and is something I do on a daily basis.
If you're using Excel, you need to first look at Data-Driven tests (https://support.smartbear.com/testcomplete/docs/testing-with/data-driven/index.html). With a data-driven test, each row represents some test and the parameters for the test are the columns. In each row, I also includ the expected result values I want to test. Then when the test runs (for each row) the data is used in calling some web service, I then use assertions to check the returned values against my expected results.