Excel's Formula Wizard is a tool that helps users create complex formulas by guiding them through a step-by-step process. To use the Formula Wizard, first select the cell where you want the formula to be placed. Then, click on the "Formulas" tab in the ribbon and select "Formula Wizard." Follow the prompts in the dialog box to select the type of formula you want to create and input the necessary information. Once completed, the formula will be automatically entered into the selected cell and calculated per the inputs you chose. This is a useful tool for users who are new to Excel or who need help creating more complicated formulas, but can often be slower than manual entry if you are familar with a formula..