How can regular expressions (regex) be effectively used in PHP to extract specific data patterns, such as monetary values and dates, from text strings?

Regular expressions can be effectively used in PHP to extract specific data patterns, such as monetary values and dates, from text strings by using functions like preg_match() or preg_match_all(). By defining the pattern of the data you want to extract using regex, you can easily search for and extract the desired information from the text.

$text = "The total amount is $50.75 and the deadline is 2022-12-31.";
$pattern_money = '/\$[0-9]+\.[0-9]{2}/'; // Matches monetary values like $50.75
$pattern_date = '/\d{4}-\d{2}-\d{2}/'; // Matches dates like 2022-12-31

preg_match($pattern_money, $text, $matches_money);
preg_match($pattern_date, $text, $matches_date);

echo "Monetary value: " . $matches_money[0] . "\n";
echo "Date: " . $matches_date[0];