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Chris Menard explains what a calculated item in a PivotTable is in Excel. He distinguishes between a calculated field and a calculated item, focusing on the latter in this video. Using an example with invoice amounts and costs, he demonstrates how to calculate the percentage change between two years. This is done by finding the difference from the previous year and then determining the percentage change. By using calculated items, users can analyze data more effectively in PivotTables.
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