Microsoft office 365 is the latest version of Microsoft office apart fom older version Microsoft office 2010, Microsoft office 2007, Microsoft office 2003 and some of its older version. It is one of the most essential software for a computer. A home user and a business both need this. This includes the following utilities in Office 365 package :
MS office word
MS office ExcelMS office Powerpoint
MS office Access
MS office Outlook
MS office Skydrive
MS office Calender
MS office Picture manager
and much more...
Its not only utility for editing and preparation of document its much more than that..
"Microsoft manages the IT software and you control the user access rights. Microsoft Office 365 is licensed on a flexible per-user per-month subscription plan."
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