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In Excel magic trick number 308, the tutorial focuses on how to extract records from a different workbook using a formula. Viewers are encouraged to download the associated workbook by visiting the creator’s YouTube channel and college website. The instructor demonstrates navigating between open workbooks with the Ctrl + Tab shortcut and uses the Ctrl + Home shortcut to return to the beginning of the data set. The tutorial aims to show how to extract records based on specific criteria using formulas, building on previous videos that covered extracting records within the same workbook and using advanced filters. Additionally, the instructor mentions a need to count certain elements in the process.