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In this Excel tutorial, the presenter demonstrates how to quickly remove formulas from a dataset while retaining the data values. Using a sample dataset with revenue, expenses, and net income (calculated as revenue minus expenses), the process involves selecting the entire dataset and copying it. Next, the user right-clicks to access the Paste Special option and selects "Values" in the dialog box. Upon clicking OK, the dataset is pasted with values only, effectively eliminating the formulas. The tutorial emphasizes that after this action, the formula bar will display only the value, confirming that the formulas have been removed.