Word

Microsoft Word is a word processing application that allows users to create, edit and save documents. These can be basic text documents or long reports that include pictures, graphs and other images.

Excel

Microsoft Excel is a program used to analyze data. In Excel, users can create spreadsheets, perform calculations, create projections and manage statistics.

PowerPoint

Microsoft PowerPoint is an application used to create computer presentations. It is most commonly used as a tool to create personalized and interactive presentations for home, school or business.

Outlook

Microsoft Outlook is an email client and calendar. Users can configure their email accounts to feed into this program, as well as maintain a personal calendar and task list.

For Home

The most basic package is the Home and Student Suite. This is the least expensive option, and it includes Word, PowerPoint, Excel and OneNote. The step up is the Standard Suite, which replaces OneNote with Outlook.

For Business

Microsoft Small Business Suite is the Standard edition, along with a Publisher application. The Professional Suite is a step up, with Access and Accounting Express added on. An Ultimate Suite includes every Office application.

Source:

Microsoft, Inc.