Hi, just a few questions if you could answer:
1) does working on an o365 doc in the cloud individually or collaboratively consume more internet bandwidth than the same for a google doc?
2) does o365 have any sort of previous version history to restore to like google has?
Not too sure about your first question but I can answer the second - yes you can have version history! And revert to a previous one if you need to.
Instructions for enabling it are available here:
o365 sharepoint versioning
The screen for changing the details looks like this:
o365 version tracking.jpg
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