The upgraded Microsoft Office 2010 suite, which finally hit the retail stores Tuesday and is already being shipped in a pre-installed version on new Windows PCs, is essentially a significant upgrade for larger businesses; but it also boasts some compelling features that may appeal home users as well as small businesses.

Some of the most notable features that may prompt home users and small businesses to upgrade to Office 2010 include – the re-appearance of the “file” tab in all applications; Word’s navigation pane, with headlines outlined on the side of the screen; PowerPoint video editing; new tools for better graphics editing within the documents; and “Sparklines” or the “in-line” graphics that users can add to cells in a spreadsheet.

However, the biggest and most significant change that Microsoft Office 2010 brings forth is the online apps; thereby giving the 2010 version users the ability to edit and create their documents online, using the Web-based versions of Word, PowerPoint, Excel, and OneNote.

The documents, initially limited to 25GB, are stored on Skydrive - a Microsoft service that can be logged into, using a Hotmail or Live password.

Despite the fact that the users’ need to go in for the Office 2010 upgrade largely depends on what they intend using the product for, an overall analysis shows that the upgrade is a good bet – particularly the $150 Home and Student edition that can be installed concurrently on three machines.