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In this video, Mindy Tracy from her online training hub explains how to insert a pivot table calculated item. She discusses the differences between calculated items and calculated fields, sharing her understanding to clarify their uses. Mindy demonstrates with sales data including regions, months, types (renewal or initial), and values, showing how to create a pivot table for analysis. She organizes the pivot table by region and type, with months as columns, allowing viewers to visualize the data and totals effectively. For detailed instructions and the workbook used, she invites viewers to visit her blog post.