As of 2017 here are the two best ways I’ve found to handle the transfer of a WordPress database from development to production.
The WP Migrate DB Pro WordPress plugin will let you push, pull, and sync database tables between WordPress installations. This is substantially better than a basic find/replace for many reasons:
WP Sync DB is a copycat replica of the premium plugin that also exists for free, but I don’t suggest using it. I’m a fan of being paid for the work I do, so I recommend you support Mr. Brad Touesnard and buy a licensed copy of the real thing. WP Sync DB is a replica and is ALWAYS behind in support. I wouldn’t mess around with databases using an unsupported plugin, but that’s just me.
The InterconnectIT Database Search & Replace Tool is a free tool and is not a plugin. Instead it’s a stand-alone script that’s installed in the root directory of your WordPress production install. This isn’t as good as WP Migrate DB Pro because it requires a few manual steps, but nonetheless it’s a great option that consistently works.
You can use a faster approach, but it involves downtime for your production site which in my opinion is unacceptable. That’s why we call it production, right?