The "Office" portion of the name "Office Web Apps" comes from Microsoft's famous Office software. The Office Web Apps are online versions of four popular Microsoft Office applications: Word, Excel, PowerPoint, and OneNote. Respectively, the Office Web Apps are called Word Web App, Excel Web App, PowerPoint Web App, and OneNote Web App.
If you're familiar with Office software, the Office Web Apps won't look entirely new to you. But the Office Web Apps don't offer nearly as many functions and features as their Office counterparts.
The "Web App" portion of the name "Office Web Apps" stands for Web application. A Web application is a software program that runs from a Web site on the Internet, not from a computer's hard disk.
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Source:http://www.dummies.com/how-to/content/what-are-the-office-web-apps.html
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