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In this tutorial, the concept of calculated fields in pivot tables is introduced. Calculated fields are custom fields generated through formulas based on existing data. Starting with raw data, a pivot table is created, allowing the user to insert fields under rows and values, such as packages and amounts. The tutorial explains how to create a new column in the pivot table that deducts tax from the amount to show the net amount without needing to copy data to another worksheet. To add calculations, the user is instructed to select any cell in the pivot table, which enables the option to create the calculated field directly within the pivot table.