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In this video tutorial, the presenter demonstrates how to create a calculator field in a pivot table, incorporating an if statement. Using a dataset of daily gains and losses, ranging from -$1000 to +$1000, along with various categories, the goal is to create a pivot table that effectively separates gains and losses into distinct columns. The tutorial emphasizes the advantage of calculated fields in pivot tables, which allows users to categorize data without adding extra columns to the dataset. Instead of manually creating additional columns for gains and losses, the presenter shows how to use the pivot table’s functionality for efficient data analysis.