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In this video tutorial, the presenter demonstrates how to create a calculator field in a pivot table using an IF statement. The example involves a dataset with daily gains and losses, represented by random numbers ranging from -$1,000 to +$1,000, along with various categories. The goal is to separate gains and losses into distinct columns within the pivot table. The tutorial emphasizes that instead of adding extra columns for gains and losses, calculated fields in the pivot table can be used to achieve this functionality. The presenter provides insights on how to implement this without modifying the original dataset.