This substitutes one string for another everywhere it appears in the input, in a single pass over the entire list.
The everyday need
Changing a domain across a list of URLs, correcting a consistently misspelled term, or swapping a placeholder for a real value across hundreds of rows.
Replace and delete are the same operation
Replacing a string with nothing removes it. That is often the simplest way to strip a repeated prefix, a tracking parameter, or an unwanted marker.
Check the count first
Before replacing, filter to see how many lines contain the search term. If the number is far from what you expected, the replacement will affect rows you did not intend.
Try it: Find and Replace Text on SeoWolf's Notepad.