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In this video tutorial, Mark Davis from Optimum Technology Transfer introduces the use of the REPLACE function in Excel, a part of the text or string functions that are useful for cleaning and tidying data. He highlights his interest in these functions and notes that he has created several videos on the topic. The tutorial focuses on standardizing order IDs, which are structured as two numbers followed by four characters and then three additional numbers. Mark demonstrates how to use the REPLACE function to modify the inconsistent four characters in the order IDs to achieve a uniform format.