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In this video, the creator demonstrates how to reduce the size of an Excel file without deleting any data. The first step is to compress picture sizes by selecting the picture, going to picture format, and selecting compress under adjust. There are different options for compressing pictures, such as selecting a specific ppi for best results. An alternative method is to go to file, click on more, then options, and finally advanced. Scroll down to image size and quality, make sure to select discard editing data and not compress image file. Reduce the ppi to make the file smaller and save space.