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In this video tutorial, Mark Davis from Optimum Technology Transfer introduces the Replace function in Excel, particularly within the context of text or string functions. He emphasizes their utility in cleaning and organizing data, referencing his previous videos on this topic. The tutorial focuses on standardizing order IDs, which consist of two numbers, four characters, and three additional numbers. Mark aims to demonstrate how to replace the variable four characters in these order IDs to achieve uniformity across the dataset. This approach allows for cleaner data management within Excel.