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In this tutorial, the speaker demonstrates how to create a checklist in Excel using checkboxes. To start, users need to add the Developer tab to the Excel ribbon by right-clicking the ribbon, selecting "Customize Ribbon," and then checking the Developer option. Once added, the Developer tab will be visible. The speaker then instructs users to go to the Developer tab, click on "Insert," and select the checkbox from the form controls to draw it in cell C5. Users can rename the checkbox text as desired. The checklist serves as a tracker for maintaining a log of activities and can be effectively used in dashboards.