What are the best practices for updating code to be compatible with PHP 7 and avoid deprecated functions?

To update code to be compatible with PHP 7 and avoid deprecated functions, it is essential to review the official PHP documentation for deprecated functions and replace them with their recommended alternatives. Additionally, ensure that all code is updated to adhere to PHP 7 syntax and features to prevent any compatibility issues.

// Example of updating code to replace deprecated function "mysql_connect" with "mysqli_connect"
// Deprecated function: mysql_connect
$connection = mysql_connect('localhost', 'username', 'password');

// Updated code using "mysqli_connect"
$connection = mysqli_connect('localhost', 'username', 'password');