Step 1: Copy the file in the Windows clipboard, e.g. in Windows Explorer or an attachment of an Outlook email.
Step 2: Press the key combination second Alt key + Z or use the global context menu (Ctrl + Menu Key):
First switch to the desired directory in Windows Explorer.
If the archive contains only one file, this will be unzipped into the current directory. If the archive contains multiple files, a folder will be created with the name of the archive.
The following archive types are supported: .zip, .7z, .tar, .cab, .msi, .chm, .bzip2, .gzip, .arj, .iso, .rar, .dmg, .mbr, .z, .crx