Yes. It is possible to use the Inspector - text functionality to apply filtering, regular expressions and build simple rules to exclude / replace content.
Here's an overview of what you can do:
Prefix - add a prefix to content e.g. was / now price or currency symbol
Suffix - add a suffix to content
Truncate - Cut off the word after a set number of characters with an ellipsis (...)
Truncate Nearest Word - Cut off the sentence to the nearest word, after a set number of characters with an ellipsis (...)
Replace - Replace set words within the parameter data
Replace If Empty - Replace if there is no data for a parameter
Replace If Shorter - Replace if the parameter is shorter than x number of characters
Replace If Longer - Replacing if the parameter is longer than x number of characters
Regular Expression - Replace Regular Expressions bu defining a sequence of characters to replace (e.g. if your brand name appears in all of your product titles you could replace this regular expression)
Get Char at Pos – Allows bringing through initials if commanded to pull in Position 1 of the first name and last name.
Reverse String – Reverses the characters within the block
Current Time – In the correct time zone and format