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In this Excel tutorial, the instructor explains how to use the Replace function in Microsoft Excel. The tutorial emphasizes learning through application and demonstrates the function by implementing it in cell B2. The Replace function is designed to replace part of a text string with a new text string. The first parameter required is the "old text," which is the text to be modified. The tutorial continues to detail the subsequent parameters and offers practical examples on how to effectively implement the Replace function in various scenarios. The objective is to help users understand and apply the function in their Excel tasks efficiently.