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In this Excel tips video, the presenter demonstrates how to remove formulas while retaining the data. The example uses a dataset of companies with revenue, expenses, and net income calculations. To remove the formulas, the user selects the entire dataset, copies it, and then uses the "Paste Special" option. In the dialog box, selecting "Values" allows the user to paste only the data, without the formulas. After confirming, the formula bar shows only the values, confirming that the formulas have been successfully removed. The presenter indicates they will provide additional tips following this demonstration.