The `NULLIF` function is a powerful tool in SQL for conditional handling of data. It takes two expressions as input and compares them. If the expressions are equal, `NULLIF` returns `NULL`. If the expressions are not equal, `NULLIF` returns the first expression. This allows you to gracefully handle situations where you want to treat equality as a special case, potentially for filtering or further processing. For instance, you might want to flag a specific value as invalid or missing. `NULLIF` is particularly useful in `WHERE` clauses, `CASE` statements, and other places where you need to conditionally return `NULL` based on a comparison. It's a concise way to avoid complex `CASE` statements for simple equality checks. Imagine a database storing product prices. If a price is accidentally entered as zero, you might want to treat it as missing data. `NULLIF` can help you achieve this.