Importing data from excel and assigning a variable to each of its columns

How should I assign variables to the data imported from excel containing 3 columns which are time, mean and standard deviation. I want to perform operations on the three variables to get new variables.

The excel file can be found on the link: https://drive.google.com/file/d/0B26xdKbTd58_SVRlOEdNaVV4VGM/edit?usp=sharing

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{time, mean, std} =

@Pawan, not sure i understand; you mean something like array=ConstantArray[0,3,130}];array[[All,;;109]]={time,mean,std}? –  kguler Apr 20 '14 at 9:56