Linking cell values for multiple cells from one singular cell

Hi,

I have used excel for a while and can do basic functions with data and formulas, but I am struggling with trying to save a lot of time with figuring out how to do a certain function or table.

For example, lets say I have 50 separate data entries with different colors. So lets just say in column A, I have different colors, and in column B I have a corresponding number. For example:
A B
Red 17
Blue 20
Green 4
Yellow 7

Now lets say I have 50 different entries like this, and the values from column B change often. Is there a way to have a master list of colors and entries and have them linked to the entries on a separate page, where I could change the numbers on the master list and they would change automatically on the entries?

Thanks,

Chris