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In this video tutorial, the process of converting Excel date formats into day names (e.g., Monday, Tuesday) is explained. First, select the dates you wish to convert. Next, navigate to the number formatting options by clicking the number format arrow. Choose the last option, "Custom Format," and clear the existing format. To display short day names (e.g., Mon, Tue), type "DDD" three times; for full day names (e.g., Monday, Tuesday), type "DDDD" four times. Finally, press OK to apply the changes, completing the conversion.