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In this tutorial, you will learn how to reduce the file size of an Excel file from 16.4 MB to less than 50 KB. The key points include ensuring the file is in tabular format with no empty cells, saving the CSV file as an Excel file, and checking the reduced file size after conversion. The original data includes series reference, period data, value, status, and dollars. By following these steps, you can significantly decrease the file size while maintaining the data integrity.