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In this video tutorial from Mark Davis at Optimum Technology Transfer, he focuses on using the REPLACE function in Excel. He introduces the REPLACE function as part of the text or string functions, which are valuable for cleaning and organizing data. Mark provides a practical example involving 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 set. This tutorial builds on previous videos where Mark explains other text functions in Excel.