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In this tutorial video, Mark Davis from Optimum Technology Transfer discusses the use of the REPLACE function in Excel, part of the text or string functions useful for cleaning and organizing data. He refers to previous videos covering various text functions and focuses on the REPLACE function today. Mark explains that he has a series of order IDs composed of two numbers, four characters, and three additional numbers. His goal is to standardize these order IDs by replacing the varying four characters to ensure consistency across the data records.