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This video tutorial demonstrates how to reduce the size of an Excel file without deleting any data. The first step is to compress picture size by selecting the picture, going to picture format, and choosing compress under adjust. Different options are available for compression, such as setting a specific PPI for printing. An alternative method is to go to file, click on more, then options, and advanced. In the image size and quality section, ensure discard editing data is selected, and adjust the PPI to reduce the file size.