In SQL, the LAST_VALUE function is commonly used to return the last value in a rowset. It is often used with the OVER clause to specify the partition and order in which the function should operate. However, using LAST_VALUE with an INSERT statement can be a bit tricky.

Let’s consider a scenario where we have a table called employees with columns employee_id, first_name, and last_name. We want to insert a new employee record and set the employee_id to the next sequential value, based on the maximum employee_id in the existing records.

Here’s an example of how we can achieve this using the LAST_VALUE function with an INSERT statement:

INSERT INTO employees (employee_id, first_name, last_name)
VALUES (
    (SELECT LAST_VALUE(employee_id) OVER (ORDER BY employee_id) + 1
     FROM employees),
    'John',
    'Doe'
);

In this example, we are using LAST_VALUE to retrieve the maximum employee_id using the OVER clause. We then add 1 to this value to get the next sequential value for the new employee. Finally, we use this calculated value in the VALUES clause of the INSERT statement along with the other column values.

Keep in mind that the use of LAST_VALUE in this way assumes that the employee_id column is sequentially increasing. If there are gaps or irregularities in the sequence, this method may produce unexpected results. In such cases, alternative methods like sequences or triggers may be more suitable.

Remember to adapt this example to match your specific database system, as syntax and specific functions may vary.

By using the LAST_VALUE function with an INSERT statement, you can easily insert new records with sequentially increasing values for a particular column.