I did thanks but the problem is they usually split text using a delimiter such as &,? or @.
In my case not all URL texts have same parameters and even if they are not in same order. For ex Channel could be 3rd parameter or 5th. I want to only pull value "paid search" of the parameter "Channel" in to a new field.
Any idea how this can be achieved.
Splitting the text shouldn't be a problem as the delimiter is &. This might also help you: String Functions
The bigger challenge would be to align the splits, which actually might rule out using the SPLIT function and instead you'll have to parse out the information using the string functions. For example you can search for the text '&Channel=' to extract the data just to the right of that. This will mean nesting string functions which could get a bit messy.
An alternative to nesting string functions would be to use the REGEX functions. These are more difficult (for me) but could simplify your formula. Check