Calculated field
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Let's say that we have the total financial aid given to all students each year in a PivotTable.
What if we wanted to create a calculated field that computed the total amount all students would've received had Coding for Crammers Academy increased financial aid by 15%?
To do so, we'd click on the PivotTable, then click the "Analyze" ribbon at the top, then in the "Fields, Items, & Sets" category select "Calculated Field...".
Within the pop-up window, let's name the formula "Increased Aid" and enter the formula to calculate the weighted GPA, which is detailed below:
='Financial Aid' * 1.15
Notice that now we can see our calculated field in our PivotTable for each year!
Calculated fields enable us to gather calculated insights in our PivotTable without modifying the original source of data.