Excel 365 refers to the subscription version of Excel as opposed to a fixed version of like Excel 2019, Excel 2016, Excel 2013, etc.

Typically, the subscription version of Excel is available as part of a suite of applications called "Office 365", which was renamed "Microsoft 365" in 2020. You can see subscription status by navigating to File > Account, which shows current product information. The subscription version of Excel is still downloaded and launched like a normal application on Windows and Mac OS.

The key thing to understand is that Excel 365 has new features that are not yet available in any other version of Excel. A good example is Dynamic Array Formulas, which include new functions like FILTER, UNIQUE, SORT, SORTBY, SEQUENCE, RANDARRAY, XMATCH, and XLOOKUP.

Note: Excel 365 should not be confused with "Excel Online" or "Office Online". These are limited feature applications that run in a browser.

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Dynamic array formulas in Excel

Dynamic array formulas in Excel

Dynamic Arrays are the biggest change to Excel formulas in years. Maybe the biggest change ever. This is because Dynamic Arrays let you easily work with multiple values at the same time in a formula. This article provides an overview with many links and examples.

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