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In this Excel tips tutorial, the presenter demonstrates how to quickly remove formulas while retaining data. Using an example of company financials that include revenue, expenses, and net income, the process is explained. First, the entire dataset is selected and copied. Then, the user right-clicks and selects "Paste Special." In the dialog box, choosing the "Value" option allows the data to be pasted without the formulas. After clicking OK, only the values remain in the cells, and the formula is eliminated from the formula bar. The video aims to show how easy it is to keep data intact while removing underlying calculations.