Can data driven testing be done out of the box by TestComplete, what i mean by that is, is it possible to point and click to set up data driven testing parameters? Like, if there's a way to specify data source file (excel) location and variable mapping to file columns.
Or can data driven testing only be done through writing scritps?
There's no "out of the box" DDT processing in TestComplete. You need to define your data structure somehow, define what that data structure represents, and then write script code of some sort so that, when your processing "engine" hits a data record, it has something to actually execute.
TestComplete does come with some sample projects and such to show you how it's done. We actually adapted some of the code from the samples for our own DDT projects (using CSV files for the data storage).