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This video provides a tutorial on how to reduce the size of an Excel file without deleting data. The first step is to compress picture sizes by selecting the picture, going to picture format, and clicking on compress under adjust. Different options are available for picture compression. An alternative method is to go to file, click on more, options, advanced, and select image size and quality. Make sure to discard editing data and not compress image files to reduce file size. Remember to save a copy of the Excel file before making changes.