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In this video tutorial, Mark Davis from Optimum Technology Transfer discusses the use of the REPLACE function in Excel. He emphasizes the importance of text or string functions for cleaning and tidying data, noting that he has created several videos on this topic. The focus is on standardizing order IDs, which consist of two numbers, followed by four characters, and ending with three numbers. Mark aims to replace the varying four characters within the order IDs to achieve uniformity. The video provides practical insight into how the REPLACE function can be applied to streamline data management in Excel.