With scheduling you can automatically pull new data either once a day or once a week. When the scheduled query runs it will update all formulas that depend on the updated data. To schedule a query click "Schedule" below the "Run Query" button in the Connections sidebar:
You can also schedule all the connections in a workbook to update together. To schedule all connections, go to the "All Connections" tab in the Connections sidebar:
If you "Schedule" from here it will schedule all connections together.