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In this video by Trump Excel, the presenter explains how to insert and use radio buttons (called option buttons) in Excel. To access the Developer tab, users need to right-click on any ribbon option, select "Customize the Ribbon," and ensure the Developer option is checked. Once the tab is visible, users can go to the Developer tab, select "Insert" under controls, and choose the option button. By clicking on the worksheet, the radio button will be inserted, appearing as a selectable circle with default text "Option Button 1." The tutorial aims to guide users through these steps efficiently.