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This video tutorial demonstrates how to use pivot table calculated field and calculated items to automate reporting and analysis. Learn the differences between calculated field and calculated item, why calculated item field may be grayed out, and how to add useful fields and items in a pivot table. Discover how to add formulas like SUMIF, AND functions for calculations. Create a pivot table by selecting all data and inserting a pivot table in a new sheet. Include customer name, calendar month, gross and net sales, and standard margin in the pivot table for efficient analysis and reporting.