Decode function in Oracle

Decode function in Oracle:
Decode is an oracle specific function which is equivalent to "IF else" function in SQL Server.

For example:

Am having a query in oracle
SELECT ID, decode(id, 1, 'Venkat', 2,'Arun', 'NoName')NAME FROM VenkatTable

The equivalent function in SQL Server is.

decode(id, 1, 'Venkat', 2,'Arun', 'NoName')NAME

->

IF ID = 1 THEN NAME ='Venkat'

ELSEIF ID=2 THEN NAME ='Arun'

ELSE NAME ='NoName'

Thanks and Regards,

Venkatesan Prabu .J