Flash fill

In a new column next to existing data, enter a value that represents what you want to extract, combine, etc. Then, in the cell below, use this shortcut. Excel will try to apply the same pattern to all rows in the data. You can use Flash Fill with text, numbers, and dates.

Flash fill is a new feature added in Excel 2013 (but sadly not available in Excel 2016 for Mac, or any other Mac version)