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In this tutorial, Mindy Tracy explains how to insert a pivot table with calculated items, distinguishing between calculated items and calculated fields. She acknowledges the confusion that often arises between the two concepts and aims to clarify their uses. The video utilizes sales data categorized by regions, months, type (initial or renewal), and value. Mindy demonstrates the process of inserting a pivot table to analyze the data contextually, grouping it by region and type, while organizing months across the columns to display totals. For further learning, she offers a downloadable workbook and step-by-step instructions on her blog.