Import action Update vs Replace in workflow

Hi! Is it true that we should be using import action Update (all mapped fields) when processing data updates via import manager?
I found that if I set the impact action to Replace and when I run my workflow which does a check on old and new value (for price), the validation will fail. This is because the old and new value will be the same. However, if I use Update action, then the system will retain the old value. I find it strange that on checking out that the system is not retaining the old value of the data (regardless of whether I am using Replace or Update action).
Can someone please clarify?
Thanks!
SF

Hi SF,
Replace Import action will Replace the old value with the new Value so their is no information of the Old value as the old value is now replaced with the new value.
In case of Update All mapped fields the system will Update the old values with the new values as per the new source file and so not all the records field values will change .Only the incoming records which have updated values in the source file will update all the mapped fields with new values.
In any of the case only the lates value will be saved under that particular field  for the records so  tracing the old and new values is not possible.
Even the workflow is always triggered after the record is already updated/Replaced in MDM and after the record is created they get checked out.
Note: In case you are using MDM 5.5 , Excel source file cannot be used with the Replace Import Action.
Hope it helps
Thanks & Regards
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