When are new versions created?

• When a list item or file is first created or when a file is uploaded.
• Note: If file checkout is required, you must check in the file to create its first version.
• When a file is uploaded with the same name as an existing one.
• When the properties of a list item or file are changed.
• When an Office document is opened and saved, after it is opened again, a new version will be created after an edit is saved.
• Periodically, when editing and saving Office documents, Not all edits and saves create new versions. When saving edits frequently, for example, each new version captures a point in time rather than each edit. This is common when autosave is enabled.
• During co-authoring of a document, when a different user begins working on the document or when the user clicks save to upload changes to the library.

Summary: There can be up to three current versions of a file at any given time: the checked-out version, the latest minor or draft version, and the latest published or major version. All other versions are considered historical versions. Some current versions are only visible to users with access to them. 

What can cause data loss issues, and what are the best ways to avoid them?

                     Using sheet view

Sheet Views is an innovative way of letting you create customized views in an Excel worksheet without being disrupted by others. For instance, you can set up a filter to display only the essential records without being affected by others sorting and filtering in the document.

Keep in mind the following:

• Once you create a Sheet View, it's available on all Excel platforms: Excel for Desktop and Mac, Excel for the Web, and Excel on a mobile device.
• If other people are working on the file, you can sort or filter, and Excel asks if you want to apply that sort or filter to just you or everyone. This is another entry point for Sheet Views.
• When you're ready to display a particular view, you can select it from the Sheet View menu.
• The Sheet View menu only displays views for the active worksheet.
• When a Sheet View is applied, an eye symbol appears next to the worksheet tab name. Hovering over the eye will display the active Sheet View's name.
• When creating a new Sheet View, Excel will preserve your initial view and display it in the Sheet View switcher as Default. Selecting the default option will reset your view to the main view of the document.

Note: To close a Sheet View and return to the default view, select View > Sheet View > Exit.

                     1. AutoSave

     It is imperative that all users have AutoSave turned on while using Excel for Microsoft 365 to guarantee that updated selections are visible to everyone.

2. Sync time

    Sometimes it takes time for Excel and the cloud to communicate with each other.

                     3. OneDrive (SharePoint)

    If you're using OneDrive to sync files, ensure it isn't paused and that “Use Office applications to sync Office files” is turned on. Details on this setting can be found here.

4. File Errors

    Some files may have errors that can cause sync issues. On a Windows PC, open the file and go to File > Info. Resolve any errors that may be shown there.

                     5. Overwriting Changes Made by Other Users

    When two or more users make changes to the same cell or range of cells, Excel will prompt the user to choose which changes to keep. If a user chooses to keep their changes and overwrite the changes made by another user, the overwritten data will be lost.