How to change URL for existing nodes after changing URL alias settings in Drupal 8

Sometimes, your pattern setting for URL alias does not work, and you kept on saving few nodes. After realizing the mistake, you want to update URLs of your node for SEO benefits.
But, many people stuck there, and were not able to generate refreshed URL aliases.

This video explains how you can change URLs for existing nodes.

Note: This is demonstrated in Drupal-8