Chris Webb has an example of taking a data set and generating a report in a Word document:
The idea is to loop through the rows in the Excel table and use the data on each row to populate the content controls in the template and then create a new Word document. Here’s a Flow that does this:
The steps are a bit convoluted, but they work. Chris mentions at the end why people might want to do this, and I’ll reiterate that: I’ve been in several discussions over the years where people want to embed data inside a document without manual intervention, and using tools like Reporting Services, that has not been pretty.