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Today's tutorial focuses on Excel's IF function, explaining how to use it alone, when to use multiple IFs, and how to combine it with logical functions like AND or OR. When a formula is needed based on a condition, such as marking entities with values above 200 in revenue, IF function is effective. Nested IFs are used when multiple conditions are required, indicated by "buts" in sentences. Examples include marking apps as "Good" if revenue exceeds 15,000. The tutorial provides step-by-step guidance on setting up logical tests and nested IF functions to solve such problems efficiently.