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In this video tutorial, the presenter demonstrates how to extract non-blank data from an array using a formula. The focus is on rearranging data from rows 2 to 9 into a specified format in rows 32 to 36. The process is broken down into three steps, beginning with identifying the positions of the desired values. The presenter explains the use of the formula `=SMALL`, which returns the k-th smallest value in an array. A practical example is given by inputting the function with a specific array to find the third smallest value, highlighting a potential issue with the initial attempt. The video aims to provide a clear method for data extraction and rearrangement.