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Priyanka Reddy 35Priyanka Reddy 35 

What is the Difference between Simple and advanced fomula fields?

Raj VakatiRaj Vakati
No Difference. It's just people own way of calling based on complexity  and it's just formulas 
Ahmad J. KoubeissyAhmad J. Koubeissy

In the simple formula, the fields' picklist doesnt show you the lookup fields, while in the advanced formula you can see them and you can see the predefined functions.

Kindly mark as best answer if this answers your question 
When you talk about the output of the fields then they are same. But however, the window where you write the formula can be really different.
In advance formula window can do everything that Simple formula window can do but it is not true vice versa. Why? because there are lots of Functions that you can use in an Advance formula window which are not available in Simple.
I would really recommend get used to with Advance Formula window since it will open up the broad veriety of features for you and one day you might think that you have one of the automation that requires a trigger but you might amaze yourself by configuring it from Advance Formula Window.
If it helps you understand the difference then please mark it as Best Answered since it will help other people with similar issue!
Hope this helps!