OLE (Object Linking and Embedding) is a technology used by Microsoft Excel and other applications to share information between them. An OLE action in Excel involves using data or objects from one application in another application, thus allowing users to create dynamic documents without having to re-enter the same information multiple times.
In Excel, an OLE action error occurs when Excel attempts to send data or communicate with another application through OLE, but the other application does not respond or complete the action within the expected time frame. Excel can become unresponsive or display an error message like “Microsoft Excel is waiting for another application to complete an OLE action” if it’s overloaded with too many tasks. This can happen if it’s asked to run too many processes simultaneously.