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This video tutorial demonstrates how to replace fields in a Word template with data from Excel. The presenter explains the process of sending personalized letters to a large list of customers by using macros in Word. By creating a template with placeholders for fields such as name, address, and account number, users can easily populate the template with data from an Excel spreadsheet. The tutorial walks through the steps of selecting and running the macro to replace text in the template with data from Excel, ultimately generating personalized letters for each customer on the list.