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In this video, the presenter introduces the SELECTEDVALUE function in DAX and demonstrates its usefulness through examples. SELECTEDVALUE is a powerful function that, when understood properly, can be applied to various scenarios. The tutorial starts by examining a report displaying product names, sales amounts, and product classes in a table format. The presenter explains that the columns can be rearranged, showcasing the flexibility of table structures. Additionally, the video discusses transforming the table into a matrix format, highlighting the changes in presentation and data organization. Overall, the tutorial emphasizes the importance of understanding DAX functions for effective report creation.