  In this work we explore the best suited computational method through a
comparative quantitative analysis of electronic and magnetic properties of
Nickel (Ni). In this direction DFT, GW, and DFT+DMFT based
$state$-$of$-$the$-$art$ techniques are used. The Coulomb interaction
parameters, $U_{full}$ = 5.78 $eV$ and $J$ = 1.1 $eV$ computed using cRPA and
Yukawa screening method, respectively, along with Full type of Coulomb
interaction within DFT+DMFT prove to be a suitable choice for studying occupied
& unoccupied electronic structures, and temperature dependent magnetization of
Ni. The calculated spin resolved values of imaginary part of the self-energy
($Im\Sigma(\omega)$) using DFT+DMFT are found to be important for the best
description of experimental electronic excitation spectra. This study shows the
equal contribution of correlation effects and plasmon excitations to the
intensity of famous 6 $eV$ satellite and hence paving way for its
reinterpretation.
