Binomial expansions provide a shortcut for multiplying numbers by themselves repeatedly by breaking the calculation into easier steps of squaring nearby whole numbers and subtracting or adding small differences. However, this method is not always the most efficient approach. It works best when the difference between the number and the nearest perfect square is small and easy to calculate. For some decimal numbers or cases where the difference is difficult to square, the standard long multiplication method may be preferable. Engineers in the past relied on methods like binomial expansion before calculators to simplify complex calculations.