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In this video tutorial, Mindy Tracy explains how to insert a pivot table calculated item. She discusses the differences between calculated fields and calculated items, sharing her insights to clarify their uses. Mindy demonstrates using sales data organized by region, month, type (renewal or initial), and value. She shows how to create a pivot table to analyze this data, placing regions and types in the rows and months across the columns for better visualization. The tutorial provides both visual and written instructions, with a downloadable workbook available on her blog for further guidance.