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In this video tutorial, Mark Davis from Optimum Technology Transfer demonstrates the use of the REPLACE function in Excel, which is part of the text or string functions aimed at cleaning and organizing data. He will focus on a series of order IDs composed of two numbers, four characters, and three additional numbers. The goal is to standardize these order IDs by replacing the varying four characters with a consistent value. Mark highlights that he has previously shared other videos on text and string functions, emphasizing their importance in data management.