The video shows how to edit common data in Excel for heat exchangers. One approach involves selecting the heat exchangers row, generating a list of heat exchanger nodes, and selecting specific nodes to edit common data. Users can hold the control key to select and simultaneously edit common data for two or more heat exchangers. It also discusses how changing the pressure loss model can affect the number of tubes in Node 1. It emphasizes the importance of recalculating the model to refresh the results based on any changes made.