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Concatenation of Properties: Using Placeholders versus Aliases

Dear Forum,

When concatenating properties placeholders can be inserted manually or with aliases.

Are there specific situations in which manual OR aliases should or should not be used?

For example are they two different methods of achieving the exact same output? 

Are there any specific benefits or drawbacks associated with using one over the other?

I have already read this --> https://www.m-files.com/user-guide/latest/eng/Automatic_values.html but I couldn't find a further explanation to the above  questions.

Any advice would be great - thanks!