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In this video tutorial, the host introduces the SELECTEDVALUE function in DAX, highlighting its usefulness and versatility. SELECTEDVALUE is presented as a powerful function that requires a clear understanding for proper application. The tutorial demonstrates its utility by showing a report with product names, sales amounts, and product classes formatted as a table. The host illustrates the ease of moving columns and discusses the potential transformation of the table into a matrix format. The emphasis is on recognizing scenarios where SELECTEDVALUE enhances report functionality, thereby enabling users to effectively utilize DAX in their analyses.