# NumXL Reviews 2026. Verified Reviews, Pros & Cons | Capterra > Is NumXL the right Statistical Analysis solution for you? Explore 24 verified user reviews from people in industries like yours to make a confident choice. Source: https://www.capterra.com/p/150173/NumXL/reviews --- NumXL 4.8 (24) [View alternatives](https://www.capterra.com/p/150173/NumXL/alternatives/) Provider data verified by our Software Research team, and reviews moderated by our Reviews Verification team. [Learn more](https://www.capterra.com/our-story/) * * * Last updated March 13th, 2026 # Reviews of NumXL Ease of use 4.6 Customer Service 4.7 ## Pros and Cons in Reviews MB Mohammad B InstructorResearch, 51 - 200 employeesUsed the software for: More than 2 years. “Convenient price, has DFT, works on MS Excel.“ August 23, 2022 MW Martyn W Founding PrincipalFinancial Services, Self-employedUsed the software for: 1-2 years. “Competitor products tend to require the user to learn a whole new software language, e.g. Matlab, whereas NUMXL easily integrates into Excel; meaning that it is easy to deploy to all our staff and clients without the need for time-consuming training or changes in our modelling architecture.“ December 1, 2020 TM Tony M Senior AnalystUtilities, Self-employedUsed the software for: 6-12 months. “There are plenty of tutorials and examples to assist you!“ November 24, 2020 ## Showing most helpful reviews Showing 1-24 of 24 Reviews Sort by: Most Helpful Rating Company Size Reviewer's Role Length of Use Frequency of Use EL Eric L. Systems Engineer Aviation & Aerospace Used the software for: 2+ years ### "Interpolation works well" April 2, 2026 5.0 Overall, I am very happy with NumXL as the interpolation function perfectly replaces the older 32-bit plug-in I had been using which is no longer supported by newer versions of Office. Pros I only use NumXL for one function: interpolate. I have zero problems with that function. At this time, I have no reasons to use the other functions, but I do appreciate the effort that went into building them. Cons I wish the interpolate function was stand-alone for a lower price, but I can understand that the developers need to be paid and that segmenting the product line is probably too much work, especially if it means lower revenue. Review Source MW Martyn W. Founding Principal Financial Services Used the software for: 1-2 years ### "NUMXL is the genuine article and delivered with first-class user support." December 1, 2020 5.0 Superb. Not only is the software leading edge, but our interactions with NUMXL staff have been excellent. We have been lucky enough to work with the owner, Mohamad, who not only has advised us about how to use their product most efficiently but has also helped us integrate NUMXL into our VBA scripts! Customer service from NUMXL is second-to-none and personalised in a way that the bigger players can't match. I'd rather deal with people I can speak to and build a strong working relationship than being a number to a large multi-national. Pros While NUMXL naturally presupposes an understanding of statistics, it is intuitive to use, accurate and powerful given it is native to Microsoft Excel. Competitor products tend to require the user to learn a whole new software language, e.g. Matlab, whereas NUMXL easily integrates into Excel; meaning that it is easy to deploy to all our staff and clients without the need for time-consuming training or changes in our modelling architecture. Cons Nothing. The product is first-class. While we would like to see more statistical functions that suit our individual purposes, NUMXL combined with Excel allows us to create formulae or even user-defined formulae and macros that suit our needs. If NUMXL could somehow make VBA multi-threaded, that would be great given we call NUMXL within VBA scripts. This is probably more a job for Microsoft, however. Alternatives considered [MATLAB](https://www.capterra.com/p/125813/MATLAB/) Reason for choosing NumXL see above Switched from [MATLAB](https://www.capterra.com/p/125813/MATLAB/) While MATLAB is excellent, it required us to learn a completely new software language, rather than NUMXL that can build upon our VBA expertise. We also found it challenging to product plots of sufficient flexibility and professionalism, whereas being an Excel Add-In, NUMXL did not have such challenges. Other products also require a materially higher capital outlay and ongoing subscription than NUMXL. Review Source AB Arezki B. Principal Engineer Oil & Energy Used the software for: Less than 6 months ### "struggling with NUMXL tools" September 6, 2024 3.0 Up to now, I am struggling in using NUMXL functions and tools The #NUM! error is haunting me. Even when I use the Example files and try to reproduce the functions. Pros It has the tools I need for my project. Cons Most of the example files are not reachable. I don't like the support. Review Source LK Ladislav K. professor Education Management Used the software for: 2+ years ### "With NumXL the statistics could be easy" March 3, 2025 5.0 I have personal experience with various alternative applications of NumXL components. Pros Statistics is one of the less popular subjects for undergraduate students. In my experience, one reason for this is the lack of suitable, user-friendly software that enables quick statistical processing of various tasks and allows for effective presentation to students. In my teaching practice, I have found NumXL products to be a valuable support in this area. Ladislav (Slovakia) Cons Despite my long practice with NumXL, I am not qualified enough to identify such a bottleneck. Review Source HD Huw D. Professor Higher Education Used the software for: Less than 6 months ### "Simple and Easy" October 28, 2024 5.0 Very useful. I wanted to use it for seasonal adjustment using X-13 and managed to get it to do what I needed it to do. Pros Very easy to use as an excel add on. It means I can stay in Excel to do my analysis without opening other programs which saves time. I can try out ideas on my spreadsheet and create nice charts quickly. Cons Little explanation if the program does not work: you need to work it out by yourself. Also, it can be a bit slow sometimes. However, when it works, it is easy and simple. Review Source LM Lawrence M. Founder and Head of Research Investment Management Used the software for: 2+ years ### "Great product and wonderful support team" November 14, 2019 5.0 Love it. Been a long time user and expect to be a user forever. The founder, Mohamad, has built a wonderful product and his support team is very responsive and knowledgeable. We use the tool everyday and I love it. Pros Easy to use, reliable, lots of functionality. Cons 1\. I wish the product could accept longer time series without losing backhistory. 2. I would love to make this country specific. It would be amazing if we could define a parameter which uses each countries holiday calendar. Asia and China specifically come to mind and could be very helpful to deal with Chinese New Year data distortions. Review Source Response from Spider Financial November 15, 2019 Thank you Lawrence for kind words, I have added your feedback to our features request forum for the upcoming X13ARIMA-SEATS model. Here's the post: https://support.numxl.com/hc/en-us/community/posts/360055256592-Enhancement-for-X12ARIMA TKN Tian Khean N. Retiree Financial Services Used the software for: Less than 6 months ### "Why NumXL is a good tool for individual investors in the financial markets" October 26, 2020 5.0 Its a great software, and I can build my own models easily. Pros 1\. Its focus on times series analysis which is what investors in the financial markets . 2. Its ease of use. 3. Has facilities and features that incorporate the latest advances in techniques for time series analysis. Cons Maybe a need for them to review their technical Help files to ensure that every word, every instruction is absolutely clear. This is because I think those who gravitate to NumXL are not experts . NumXL should be positioned as a tool for those who have been using Technical Analysis Indicators and chart patterns for investment decision. They can with NumXL do better forecasting and risk management , with statistical probability and Confidence Intervals to back up. There is a big market for this kind of product. Many technical analysis users realize that Indicators like MACD, RSI, Chart Patterns etc are not useful except for those doing high frequency or forex trading. Review Source Response from Spider Financial October 27, 2020 Thank you, Ng Tian! I have conveyed your feedback to our team, and we are constantly working on revising and improving the user's guide and other support material. JK Jens K. CEO Health, Wellness and Fitness Used the software for: 1-2 years ### "Getting a fast overview of your dataset" November 16, 2019 5.0 We are a company of ambulatory care service. As i studied maths, statistics and economics i am personally interested in workling with big datas. We have a clear benefit in our competitive situation from using the tool an analyzing several questions of how the demographical development will affect future demand. Pros \- Addin -fast an easy use of the tools - the easy proove of forecasting an reality - the ultimate fair price - the premium support - youtube tutorials Cons \- it is only in english - Reason for choosing NumXL the high costs of yearly license. Review Source Response from Spider Financial November 18, 2019 Thank you Jens for feedback. NumXL comes in Spanish language as well, but not yet in German. Please, make this request in our "Feature Request Forum" to consider for future releases! https://support.numxl.com/hc/en-us/community/topics/200263143-Community-Feature-Requests MZ Min Z. Senior Analyst Investment Management Used the software for: 2+ years ### "NunXL product review" November 8, 2019 5.0 Fantastic Pros Powerful, economic, friendly and resourceful support Cons I do not know so far, may be more explainations Review Source AA Ajit A. Managing Director Financial Services Used the software for: 2+ years ### "Complex statistics" November 9, 2020 5.0 Pros Allows me to use complex statistics like seasonal adjustments Cons Sometimes doesnt work, and requires reinstallation, and resetting. In the latest version, sometimes the data doesnt refresh, and I need to change some numbers by hand to force it to recalculate. Review Source Response from Spider Financial November 10, 2020 Hello Ajit, thanks for the feedback. I appreciate it. Are you still experiencing problems after the latest update? Please, contact our support for any help. We'd love to help! GH Gary H. PhD Student/Researcher Utilities Used the software for: Less than 6 months ### "Excel Based Finacial Analysis AddIn: Easy to use;Cheaper than many Alternatives;Quick to get results" December 19, 2019 5.0 Exactly what i wanted - easy to use directly in Excel. I have access to more expensive products but these are not easy to use. Pros Easy to use, especially in Excel. Many functions that enable me to quickly and easily do white noise tests look at ARIMA and GARCH models of data that i'm analyzing for my PhD. Great support and timely - lots of useful videos to explain how to use it - enabling me to get up to speed in less than 30 mins. Great examples including example spreadsheets. Cons Nothing. But always nice to have extra functions , but I'm sure these will be added as part of the development process. Review Source YC Yin C. graduate student Education Management Used the software for: Less than 6 months ### "great tool & great technical support " December 2, 2019 5.0 I use NumXL to do data analysis in Excel for my graduate study thesis. The tool is easy to use. I find it helpful to consult the articles/guidelines on the NumXL website, particularly the attached Excel files on the website for examples. I also like the videos on how to use the tool published on YouTube. I first learned about NumXL from one of the videos on YouTube. Overall it is a good tool for those that intend to complete more advanced statistical analysis within Excel for the ease of data manipulation instead of exporting data to another software. Pros I like the fact that the tool is an added component to Excel which allow me to manipulate data with ease and complete analysis in one place. I also like the personalized technical supports I have received when I have encountered issues with the software. Cons There was issue with my version of Excel that did not allow some functions of the software to run. It was solved by re-installing Excel. But the technical support team was really helpful and patient to help me solve this problem. Review Source JB Jack B. Executive Consultant Executive Office Used the software for: 1-2 years ### "Great for time-series analysis" November 27, 2019 4.0 I primarily use the software for time-series analysis and forecasting. For those activities, I find the software very useful, intuitive, and accurate. Pros The software make time-series analysis much easier and more accurate. I appreciate the forecasting methodology that the developers used in the software. Cons It is a specialty software that focuses on time-series (primarily), which requires the use of other software for different analyses. Review Source Response from Spider Financial December 2, 2019 Thank you for the feedback, I appreciate it. In NumXL, we support factors analysis (e.g. MLR, PCA and GLM), and, starting with version 1.66, we are adding numerous non-parametric statistics and regressions, such as K-nearest neighbors (k-nn), Kernel regression and Localized Regression. Let me know if there is a particular analysis you wish to see in NumXL. BP Branko P. Visiting Fellow Higher Education Used the software for: 2+ years ### "Exceptional product" January 3, 2020 5.0 Excellent software and first class support Pros Ease of use, depth and breadth of techniques, impressive library of examples and “how to” papers, as well as outstanding support. Cons Didn’t work with pre-installed Excel on a new machine Review Source MB Mohammad B. Instructor Research Used the software for: 2+ years ### "It will deliver!" August 23, 2022 4.0 I used NumXL to make a DFT analysis in a previous research paper, which worked very well. I am trying to do another research project with DFT. Pros Convenient price, has DFT, works on MS Excel. Cons I had to search for the syntax for the DFT function for a long time. Review Source Response from Spider Financial August 29, 2022 Thank you, Mohammad, I appreciate the feedback and will convey it to our engineers. SJ Suhas J. Personal Oil & Energy Used the software for: 6-12 months ### "Excellent" December 17, 2019 5.0 Pros For someone who needs to analyze data on a routine basis, Numxl provides a lot of functions and wizards in a very easy to use format. You don't need to be a mathematician to benefit from some of its rather difficult but useful concepts. Cons Wouldn't mind having wizards for several of the provided functions. Review Source MA Musah A. PhD Candidate Mining & Metals Used the software for: 6-12 months ### "Use of NumXL for geotechnical data analysis" December 19, 2022 5.0 Pros It is user-friendly and has most of the statistical features. Cons The reporting format of the analysis needs to be improved Review Source Response from Spider Financial December 23, 2022 Thank you, Musah, for your review. I am curious to learn more about your suggestion for reporting format. Would you please elaborate? TM Tony M. Senior Analyst Utilities Used the software for: 6-12 months ### "Excellent Time Series Forecasting Tool!" November 24, 2020 5.0 Excellent choice in software, easy to use! Pros NumXL is an excellent! It is easy to use and is well supported! There are plenty of tutorials and examples to assist you! Cons I have not found any downsides using this software. Review Source Response from Spider Financial December 1, 2020 Thank you, Tony! CE Clive E. consultant Medical Practice Used the software for: 2+ years ### "excellent" May 21, 2021 5.0 quick review of models Pros explanation of methods used and ease of altering graphics Cons Correction of errors in data selection and choice of graphic displays Review Source Response from Spider Financial May 26, 2021 Thank you, Clive. I truly appreciate the feedback. IF IVAN F. Sales Machinery Used the software for: 1-2 years ### "Very practical and user friendlly" November 13, 2019 5.0 The software can assist you with the model which comes handy when the series is complex. Pros Its GUI is very intuitive. Other Excel Add In, in spite of being similar, are not as friendly. Cons I have not complaints. There was one ocassion the software malfunctioned but Dupport was quick. Review Source BR Bojan R. Associate Banking Used the software for: 6-12 months ### "Good value for money" November 8, 2019 4.0 We primarily wanted to use NumXL as a easy to use tool which can help solve lupeholes in excel for serious statistical analyses. Pros Ease of use, good and intuitive user interface. Cons Lack of option to calculate and choose the optimal data series lag in regression analysis. Review Source Response from Spider Financial November 11, 2019 Thank you Bojasn for the feedback! We are already planning to add support for lagged-variants of the explanatory variables into the MLR. https://support.numxl.com/hc/en-us/community/posts/204564943-Regression-Analysis SR Sara R. Student Environmental Services Used the software for: 6-12 months ### "Easy fourier transform" November 15, 2019 5.0 Pros The use of fourier transform was much easier then other software Ive used Cons I would love it if I could create a wind rose with the software. Review Source Response from Spider Financial November 18, 2019 Thank you for the feedback. I truly appreciate it. Do you refer to "Wind Rose Diagram" where you can display the wind speed at given location over time? LM Luis M. Director Transportation/Trucking/Railroad Used the software for: Less than 6 months ### "Great customer support" August 18, 2021 4.0 Pros Very user friendly software, with very good features. The customer support is fabulous. Cons Sometimes in Sarima or Sarimax models the results need additional calibration. Review Source Response from Spider Financial August 24, 2021 Thank you, Luis, I appreciate the feedback and will convey it to our engineers. MM Mike M. Reliability Engineer Consumer Goods Used the software for: Less than 6 months ### "Fourier Analysis" December 17, 2019 5.0 9 out of 10. Pros The use of this software with Excel is a great tool. There is great value in this product and it makes Excel a great tool for an Engineer. Cons Sometimes the functions don’t work as planned. I think you need a larger/more-detailed operations manual. Review Source Similar Products Featured