Office Versions

By default, Office 2010, 2013 and 2016 install the 32-bit version.
You must explicitly choose to install the 64-bit version during setup.
Starting with Office 2019 and Microsoft 365, the default is the 64-bit version.

64 Bit Version

Excel 2010 was the first version available in 64-bit.
If you are using 32-bit Windows, you can only install 32-bit Office.
If you are using 64-bit Windows, you can install either 32-bit Office or 64-bit Office.

Reasons to choose 64-bit

The 64-bit version may perform better if you are working with large data sets and complex calculation.
You have a much larger amount of RAM (virtual memory) that can be accessed which is useful when using Power Pivot.
You can have files larger than 2GB.

Reasons to choose 32-bit

You want to use 32-bit add-ins
You want to use 32-bit controls (eg Microsoft Windows Common Controls Mscomctl.ocx) Your VBA code calls a Windows API which uses a 32-bit data type ()

Microsoft Office 365 Versions

The exact version number depends what channel you are on.
More details about the different channels can be found here

Office Versions

16 = Office 365
16 = Office 2019
16 = Office 2016
15 = Office 2013
14 = Office 2010
12 = Office 2007
11 = Office 2003

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