For example I am trying to update below 5 records. So I am selecting them and clicking edit.
Now try to do the same operation (select all the records and click edit). This time I am populating Account Name lookup field. Then I change my mind and remove that value.
Once remove we can only see Business Phone field with our new values.
Once save, you will notice all the Company Name fields have been vanished !
Obviously, this is not a good user experience. Please make sure you understand this behavior before jump into Bulk Edit feature. If you are a trainer, please make sure you educate your audience with this tricky behavior. Hopefully, Microsoft will fix this in a coming release. Until then, play safe!