Illustrate the use of the REPLACE function with an example.

The REPLACE function of Oracle is used for replacing a sequence of characters in a string with some other set of characters. Let us take a look at an example to translate the string “R12S121” to “R34S341” with the help of the REPLACE function.

REPLACE("R12S121", "12", "34");

Note that every occurrence of the substring “12” is replaced by the substring “34”.