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In this video, we learn how to convert a column of records into a proper data set using Power Query. The tutorial, featuring tips from Gert and code tricks from Brian XYZ and Addisojo, demonstrates the process through the user interface and M code. Power Query is recommended for external data importation and can be used instead of a formula when necessary. The steps include importing data from a text file and transforming it for use in Excel. The necessary files can be downloaded from the video description.