Oracle: EXECUTE IMMEDIATE is the replacement for DBMS_SQL package from Oracle 8i onwards. It parses and immediately executes a dynamic SQL statement or a PL/SQL block created on the fly. Dynamically created and executed SQL statements are performance overhead, EXECUTE IMMEDIATE aims at reducing the overhead and give better performance. It is also easier to code as compared to earlier means. The error messages generated when using this feature are more user friendly. Though DBMS_SQL is still available, it is advisable to use EXECUTE IMMEDIATE calls because of its benefits over the package.
Note: EXECUTE IMMEDIATE will not commit a DML transaction carried out and an explicit commit should be done.