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In this tutorial, Mindy Tracy introduces the concept of inserting pivot table calculated items. She explains that calculated items serve as siblings to calculated fields and shares her insights on when to use each. The video includes a demonstration using sales data, categorized by regions, months, type (renewal or initial), and values. Mindy will create a pivot table to analyze the data effectively, displaying it by region and type, with months along the columns for better visualization. Viewers can download the workbook and find step-by-step instructions on her blog.