You can extract simple patterns from your data, for example extract the first name from a full name or you can extract multiple patterns. For example, you can get the date, the business name and the amount from a credit card statement. All by typing a couple of examples for Excel to use as a template.
The Microsoft Excel Flash Fill control is on the Home tab of the ribbon in the Fill group. It is also found in the Data Tools group on the Data tab. And, of course, you can add it to your Quick Access Toolbar if you find yourself using it frequently.