Office 365 provides cloud-based versions of Microsoft productivity applications like Word, Excel, PowerPoint, Outlook, and more. The document discusses important things to know when using Office 365, including understanding identity options like cloud identities, federated identities, and DirSync; realizing ADFS capabilities beyond just federated identities; and using tools to assess deployment readiness. Key recommendations include knowing what you are subscribing to, understanding identities and credentials, leveraging ADFS, and checking your environment's ability to connect to Office 365.