You will need an API token so Excel can access your saved report, but you do not need API data references to get the data into Excel.
- Save the report
- Copy the report URL
- Place the report URL and API token in Excel Power Query
- Access Excel Power Query from Excel using the Data > From Web selection
- Use the Advanced setting to place the token in the API request header parameter parameters
- Load the query to get your report
- Save the resulting Excel spreadsheet
- Use Data > Refresh All any time you open the report
- This queries the report for the latest real-time information
The advantages to this process over taking that same report and exporting it to Excel goes far beyond skipping a few steps navigating to the report in your browser.
Power Query can step through data field manipulation so you do it one time and every data refresh automatically performs all of those steps.
Common changes could be data transformation and custom data calculations.
Do it once and let Excel automation through Power Query do it with every data refresh going forward.