Before version 8.1, the DECODE was the only thing providing IF-THEN-ELSE functionality in Oracle SQL. Because DECODE can only compare discrete values (not ranges), continuous data had to be contorted into discreet values using functions like FLOOR and SIGN. In version 8.1, Oracle introduced the searched CASE statement, which allowed the use of operators like > and BETWEEN (eliminating most of the contortions) and allowing different values to be compared in different branches of the statement (eliminating most nesting). In version 9.0, Oracle introduced the simple CASE statement, that reduces some of the verbosity of the CASE statement, but reduces its power to that of DECODE.
Difference between DECODE and CASE:
Everything DECODE can do, CASE can. There is a lot more that you can do with CASE, though, which DECODE cannot. Differences between them are listed below:
1. DECODE can work with only scaler values but CASE can work with logical oprators, predicates and searchable subqueries.
2. CASE can work as a PL/SQL construct but DECODE is used only in SQL statement.CASE can be used as parameter of a function/procedure.
3. CASE expects datatype consistency, DECODE does not.
4. CASE complies with ANSI SQL. DECODE is proprietary to Oracle.
5. CASE executes faster in the optimizer than does DECODE.
6. CASE is a statement while DECODE is a fucntion.
----Example of CASE----
SELECT last_name, job_id, salary,
CASE job_id WHEN 'IT_PROG' THEN 1.10*salary
WHEN 'ST_CLERK' THEN 1.15*salary
WHEN 'SA_REP' THEN 1.20*salary
ELSE salary END "REVISED_SALARY"
FROM employees;
----Example of DECODE----
SELECT last_name, job_id, salary,
DECODE(job_id, 'IT_PROG', 1.10*salary,
'ST_CLERK', 1.15*salary,
'SA_REP', 1.20*salary,
salary)
REVISED_SALARY
FROM employees;
Ref: http://theprofessionalspoint.blogspot.com/2012/05/decode-function-vs-case-statement-in.html