With PowerPoint, you can make charts, tables, and macros, and insert images, audio, video, and other multimedia files, either by embedding them into the file or, if your version doesn’t support the particular file, linking to it in a slide.
PowerPoint 2003 introduced some additional features to make slide shows accessible to a much wider audience. The free PowerPoint Viewer application makes it possible for a slide show to be viewed on systems without the need to install the full PowerPoint application. Additionally, the PowerPoint Package for CD provides the option of transferring the presentation file, and all its associated contents, such as linked video files, to a CD along with the Viewer, allowing the presentation to be viewed on operating systems as early as Windows 98.
PowerPoint 2007 added improved visual effects, such as shading and beveling, to give slide shows a more professionally designed look. A live preview option is also available in the 2007 version. To get a quick view of PowerPoint’s capabilities and how people are using it, visit http://www.slideshare.net. For more in-depth views on working with PowerPoint, some articles of interest include How to Add Music from a File to a Microsoft PowerPoint Presentation, How to Embed YouTube Videos into Microsoft PowerPoint 2007, and Gantt Charts: Creating Them in Microsoft Office PowerPoint 2007.
With an abundance of features and possible applications, "versatility" would perhaps be a more succinct definition of Microsoft Powerpoint.