A calculated field within a pivot table is a user-defined formula that performs calculations on the data already present in the source data or within other fields in the pivot table itself. For example, one might create a calculated field to determine the profit margin by subtracting the cost of goods sold from the revenue, providing a new data point for analysis without altering the original dataset.
The inclusion of calculated fields enhances the analytical power of pivot tables. It allows for deriving new insights and metrics based on existing data, enabling more detailed and customized reporting. Historically, this functionality has evolved from simpler summation tools to more sophisticated formulas, facilitating complex data manipulations directly within the pivot table environment and reducing the need for extensive pre-processing of the source data.
