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In this video tutorial, we explore the concepts of normalizing and standardizing data in Excel. Normalization involves scaling numerical values to a specified range, typically zero to one. Excel 2019 does not have a built-in normalization function, so it must be done through manual formula entry. It is important to distinguish normalization from standardization, which involves adjusting values to have a mean of zero and standard deviation of one. Understanding these operations will help in effectively analyzing and manipulating data in Excel.