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In this video 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 that the file is in tabular format with rows and columns and no blanks in the top rows or on the right. After opening the file, save it as an Excel file by going to File > Save As and changing the format to Excel. By following these steps, the file size is reduced to 3.18 MB. You can achieve this easily with any sample file you have.