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In this tutorial, Mark Davis from Optimum Technology Transfer demonstrates how to use the REPLACE function in Excel. He emphasizes the importance of text or string functions in cleaning data and notes that he has previously covered many such functions in his videos. The focus of this tutorial is on standardizing order IDs, which consist of two numbers, followed by four characters, and then three numbers. Mark aims to replace the varying four characters in the order IDs to achieve consistency across the data set. The video serves as a practical guide for utilizing the REPLACE function effectively in Excel.