A "presenter view" in PowerPoint has also been praised because it privately shows various elements to the presenter that the audience doesn't see, including notes, upcoming slides and a clock for timing presentations. A better user experience and more powerful data analysis tools have been highlighted in Excel.

"There are a lot of new features in the applications themselves," said IDC analyst Melissa Webster. "They add up to increased user productivity."

Microsoft is also getting props for advancements in cloud functionality. While Microsoft will continue selling Office via an upfront, perpetual license -- the product branded Office 2013 -- it will also let people buy the suite as a cloud-based subscription service, which carries the existing Office 365 brand.

Today, Office 365 is a cloud-based applications suite for business users that typically includes online versions of Exchange, Lync and SharePoint, as well as Office Web Apps, all of which have a subset of the features of their on-premise counterparts.

Now, Office 365 is being offered to consumers as well, as a hosted version of the new Office applications. Although it is a cloud-based service, including online storage and upgrades delivered automatically, most of the software components need to be installed locally. Buyers will be able to install the software on up to five computers.