Microsoft office is an advance version of notepad.It has very good features like Ms Excel(best for if data needs to be managed using tables solves all mathematics purpose.)it has Ms Word(its an advanced word processor where you can change font size,style shape) and much more.
It is an advanced word processor. It helps with creating professional looking documents for home and office use. For printing labels I perfer to use a handheld label printer. You can find good deals on them at www.ecomofficesupplies.com
Microsoft office helps you in creating document files (letters), spreade sheets, presentations.