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This video tutorial demonstrates how to use pivot table calculated field and calculated items to automate reporting and analysis. It explains the difference between calculated field and calculated item and teaches how to add useful fields and items in a pivot table. The tutorial also covers adding formulas such as sum if and and functions to calculations. To create a pivot table, press ctrl+a keys to select all data, click on insert pivot table, and create a new sheet. Include customer name, calendar month, gross and net sales, and standard margin in the pivot table for efficient analysis and reporting.