Maximo database formulas are a better way of putting together calculated values than autoscripts or views. Unlike scripting, where most of the variables need predefined and bound to some Maximo attributes/properties/maxvars, the formula expression can use any of these inside the expression without ever needing to predefine or bind them.
Before we jump the gun and start thinking that formulas are replacements for scripting, let’s set the scope. Maximo formulas are limited to mathematical expressions and hen it can only be used to calculate numerical values. Also, expressions are not full programming constructs. Automation scripts on the other hand, leverage all the power that comes with dynamic scripting languages like JavaScript and Python. So, while a powerful and quick way to calculate values, formulas serve a niche purpose.
I’m going to be playing around with these a bit more, but I thought I’d provide this more detailed document for those who are interested. There are lots of good Maximo resources out there!