With the final release of Microsoft Office 365 Microsoft has taken bold steps to change its game. The latest office suite is radically different from previous versions of Microsoft Office, from how it's distributed to what's included to how it's priced.
The good news is most of the changes are extremely positive,
One importanat factor is Microsoft Office 365 is a subscription based product on a monthly or yearly licence and can be used on PC or Mac.
Microsoft Office 365 is "in the cloud" from two perspectives. First, buying the suite necessarily requires downloading it, which is to say, you can't buy it on a disc (the exception being in developing countries, where Microsoft will continue to sell discs). Second, the office suite itself is set up to save your documents to the cloud, OneDrive in this case, if you so choose. You do still have the option to save files locally, but the apps integrate tightly with OneDrive.
License good for five devices. Paying a subscription fee for Microsoft Office 365 Home Premium does have one huge advantage: You can install Office on up to five devices, and these can include both Windows machines and Macs. Microsoft says you'll be able to install the suite on additional, select mobile devices "when available," which is a cryptic way of not promising apps for the big two mobile OSes, while still dangling the carrot.
Microsoft can only be installed on Windows 7 or Later.