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Undo last action

Windows shortcut 
CtrlZ
Mac shortcut 
Z

This shortcut will allow multiple levels of undo; each time you use it Excel will step back one level.

Related videos

The videos below show how this shortcut can be used.
In this video, we'll go over some common options for configuring a pivot chart.
In this video, we'll look at how to use chart styles and colors.
In this video, we show how to use the TEXT function to call out assumptions in a model. You can use the same approach to highlight assumptions in any spreadsheet.
In this video, we show you how to edit a formula you've already entered.
One of the cool things you can do with Paste Special is make "in place" changes to numbers. This is a handy way to quickly change things like dates, prices, and times without using formulas.