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Default Regular Workbooks vs. Binary Workbooks

Can you tell me the difference between a regular Excel workbook and a binary
workbook?

We use a shared workbook as a tracking system for our department, and we
often have conflicts, crashes, or other miscellaneous catastrophes. My
manager asked me to find out whether saving it as a binary workbook might
reduce the number of problems that we experience.

Thank you for your help.
 
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