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In this tutorial, we learn about calculated fields in pivot tables, which allow users to create new columns based on formulas using existing data. Starting with raw data, a pivot table is inserted, with packages placed under rows and amounts and tax under values. To calculate the net amount by deducting tax from the total amount without needing to copy the pivot table to a separate worksheet, users can directly create a calculated field. This is done by selecting any cell in the pivot table, enabling the addition of formulas that produce the desired calculations within the same pivot table.