It's not really necessary. Keep in mind that hard drive capacity has exploded. My middle range Dell lap top has a Terrabyte capacity HD. So keeping file sizes small doesn't really do much but complicate your design. (but it can be done with external data source references if you are interested.)
What can be useful in terms of maintaining your solution with a minimum of data imports when the need arises to deploy a new version of the file is to borrow a page from Access and use a Convert to Seperation Model.