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In this video tutorial, viewers learn how to use the autofill feature in Excel to efficiently manage data entry, specifically for a payment schedule. The example demonstrates how entering an additional $100 in one cell automatically updates related calculations in the spreadsheet. Instead of manually typing $100 into each subsequent cell, the tutorial highlights two quick methods for autofilling data. One method involves using the small black box at the bottom right of a selected cell. This tool allows users to click and drag to fill adjacent cells with the same information, saving time and effort in repetitive data entry tasks.