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In Excel, you can change chart elements like title, axis titles, legend, data labels, data table, error bars, gridlines to customize your chart. To modify the elements, click on the chart and use the plus sign to access the different options. You can add a title, axis titles, change data labels, display a data table, show error bars for accuracy, choose whether to display gridlines, and include a legend to identify series. This allows you to create a more informative and visually appealing chart for better data presentation.