You can place...and link...a spreadsheet or named range and it will update, but you cannot place a chart.
When will Adobe and Microsoft make this work? I have worked with design and layout of financial information since the 90's and nothing has changed. I do illustrator graphs when i want the professional look but then updating is painful and relies on experience to use AI, I use excel or powerpoint and save/print to pdf when having lots of graphs from different sources. They are easy to update but then it's hard to control the design (the reason to hire me) and getting accurate output (color shifts, transparency problems, white lines in pdfs etc).
Adobe must stop ignoring this problem and produce a working solution without having to hire a database expert.
Illustrator has some pretty powerful charting tools. I suggest looking into those or, since you seem comfortable enough using Excel, simply create a PDF and place that in ID.
Update the PDF when you need to update the chart and you're good to go.
If you'd like something more robust, you should request it here: https://www.adobe.com/cfusion/mmform/index.cfm?name=wishform