# NumXL Reviews **Vendor:** Spider Financial **Category:** [Statistical Analysis Software](https://www.g2.com/categories/statistical-analysis) **Average Rating:** 4.7/5.0 **Total Reviews:** 20 ## About NumXL NumXL is a suite of time series Excel add-ins. It transforms your Microsoft Excel application into a first-class time series software and econometrics tool, offering the kind of statistical accuracy offered by the far more expensive statistical packages. NumXL integrates natively with Excel, adding scores of econometric functions, a rich set of shortcuts, and intuitive user interfaces to guide you through the entire process. NumXL comes packed with scores of functions that you can easily access through the function wizard in Excel, as well as several wizards and shortcut UIs to facilitate the time series analysis process and automate the most common steps (e.g. summary stats, modeling, calibration, diagnosis, forecast, and more.) (1) Description Statistics (2) Statistical Testing. (3) Correlogram Analysis (4) Date & Calendar calculation (5) Brown's, linear & Winter's exponential smoothing (6) ARMA/ARIMA/SARIMA & X12ARIMA (7) ARMAX/SARIMA-X (8) GARCH, E-GARCH & GARCH-M (9) MLR, GLM & PCA (10) Spectral Analysis: DFT, IDFT, HP, BK, convolution & Periodogram (11) Utilities: Interpolation, Regex, etc. ## NumXL Reviews ### 1. A Good statistic Tool to use with Excel **Rating:** 4.0/5.0 stars **Reviewed by:** Juan R. | Stuudent, Mid-Market (51-1000 emp.) **Reviewed Date:** October 12, 2022 **What do you like best about NumXL?** Its in excel, so its very easy to use. Also the vdeo tutorials are very educationals **What do you dislike about NumXL?** When you are making a mistake working with the tool, it should message you with the thing you are doing wrong, because it only tells you that there is an error and exits you. **What problems is NumXL solving and how is that benefiting you?** Descriptive Statistics models and forecasting models that are robust to program by yourself in excel. ### 2. I need an efficient assistant **Rating:** 5.0/5.0 stars **Reviewed by:** Ladislav K. | Mid-Market (51-1000 emp.) **Reviewed Date:** December 08, 2020 **What do you like best about NumXL?** I am particularly interested in analysis and modelling statistical data, namely the time series. Particularly, I appreciate simple manipulation with data and consistency with many excel procedures. Also, the support documents, manuals and various tutorial type products, which NumXL provides to the clients. **What do you dislike about NumXL?** Sorry, I do not understand this question? Which problem are you addressing? In case of NumXL I do respect this product in all its particular functions. In my view, this product is more that competitive with other price equivalent products. **What problems is NumXL solving and how is that benefiting you?** As already indicated - time series analysis, however also broad spectrum of regression analysis. Applications of statistics helped me to improve significantly values of my presentation - both publications as well as oral presentations ### 3. NumXL excellent tool and efficient technical support. **Rating:** 4.0/5.0 stars **Reviewed by:** Linda D. | Director, Analytics, Information Technology and Services, Enterprise (> 1000 emp.) **Reviewed Date:** December 06, 2019 **What do you like best about NumXL?** It is a tool with a very intuitive and easy to handle interface, with many functionalities, and also very reliable to create any type of graphic you want. In addition to its excellent functions and good system support, when presenting problems with the tool, it has a super receptive technical support that is responsible for giving immediate answers to the needs presented by users. **What do you dislike about NumXL?** So far I have not presented any inconvenience, and when I presented them, I was immediately attended by the technical support of the software and immediately responded to my request and my needs, therefore, I have no concerns to say about the software. **Recommendations to others considering NumXL:** I recommend to all organizations, so that they can carry out their calculations and statistics in an efficient and dynamic way and at the same time take it hand in hand with excel, NumXL allows you to apply advanced econometric analysis quickly and easily through its intuitive user interface in excel This tool allows you to perform various functions such as analyzing, building and forecasting the data and graphics presented in the organization. If your staff has previously used Excel, with NumXL it becomes faster and easier to adapt since its interface is almost similar. **What problems is NumXL solving and how is that benefiting you?** It is a tool that we use in the organization to reinforce Excel, we work together with the two because they are similar tools in functions. NumXL has helped us to work in a lighter and more dynamic way the part of analyzing, building, validating, testing and forecasting our graphs and calculations of all the operations that are carried out in the organization. With it we can make a follow-up of our models and at the same time make changes in the data and share among the members for some modifications that merit. ### 4. More Than your Average Spreadsheet **Rating:** 3.0/5.0 stars **Reviewed by:** Lauren T. | Teacher, Mid-Market (51-1000 emp.) **Reviewed Date:** December 12, 2017 **What do you like best about NumXL?** I love the compatibility of this software as well as the ease of use. **What do you dislike about NumXL?** I legitimately cannot think of a single thing that I disliked about the system when I was using it in HR. **What problems is NumXL solving and how is that benefiting you?** Solutions included finding profitability in our F&B department as well as projecting next year's sales. ### 5. Excellent product but still missing some of the features of mathlab or stata **Rating:** 5.0/5.0 stars **Reviewed by:** Miguel R. | Associate Director Economics & Policy, Food Production, Enterprise (> 1000 emp.) **Reviewed Date:** August 16, 2016 **What do you like best about NumXL?** Easy interface, excellent support and lots of good white papers with easy to understand examples. Good software for basic, medium econometric needs at the business level. No programing necessary. **What do you dislike about NumXL?** Lack of simultaneous equations and parameter restrictions. **What problems is NumXL solving and how is that benefiting you?** Business forecasting, volatility forecasting. ### 6. NumXL Review **Rating:** 4.0/5.0 stars **Reviewed by:** Bikramaditya G. | Entreprenuer, Research, Small-Business (50 or fewer emp.) **Reviewed Date:** August 28, 2015 **What do you like best about NumXL?** Simplicity, ease at operations and ease of interpretations. **What do you dislike about NumXL?** Less number of graphs and absence of neural network or random forest/ Support Vector Machine. **Recommendations to others considering NumXL:** People can use it for user friendly way of simple statistical tool to complex analytics in one shot. **What problems is NumXL solving and how is that benefiting you?** I am using it as part of my regular academic research and not for any business purpose. ### 7. Great Time Series Software For Excel **Rating:** 5.0/5.0 stars **Reviewed by:** Francois L. **Reviewed Date:** August 25, 2014 **What do you like best about NumXL?** I was initially looking for an Excel-based solution to perform seasonal adjustments on my economic time series as I found X-13 Arima-Seats to be very cumbersome and NumXL exceeded my expectations with its user-friendly add-in interface. I followed their online tutorials which usually comes with Excel spreadsheets to showcase how it’s done and everything worked very intuitively. The software comes with other tools that might come in handy (Descriptive Stats, Statistical Tests, Modeling, etc.) depending on the financial research topic / assignment you are working on. In my case, I also use multiple regressions often and I was happy to find out the software comes with a more advanced version of this Excel tool. It also allowed me while crafting my model to take decisions about variables to include or exclude based on one-click statistical tests such as the Multi-Collinearity test. **What do you dislike about NumXL?** Nothing, the 1.63 Shamrock version seems stable and loads fast as you open your Excel. I am currently using Excel 2010 but the site states it works well with previous Excel versions. Also it does not seem to create any compatibility issue with the Bloomberg API. **Recommendations to others considering NumXL:** I had a specific question that was not covered in the tutorials and I got an answer within 24h which proves NumXL is a developer listening to its customers and therefore worth purchasing the product from. Thanks again! **What problems is NumXL solving and how is that benefiting you?** Seasonal adjustments of various economic time series for modeling purposes and more. ### 8. Outstanding functionality and the best customer service I've ever experienced **Rating:** 5.0/5.0 stars **Reviewed by:** Verified User **Reviewed Date:** August 12, 2014 **What do you like best about NumXL?** NumXL is an extremely useful suite of statistical analysis tools that allow users to easily perform a wide set of tasks relevant to empirical work ranging from data summary to forecasting. The interface is intuitive and easy to use and the application is constantly being updated and further developed. The app itself deserves high praise as I do not think there is any comparable tool at least for Excel. However, in my opinion, the responsiveness and genuine customer service vocation of the team of developers is what sets NumXL apart from other Excel add-ins. The team behind NumXL is very eager to troubleshoot the app with a confused user (even late on a sunny Friday afternoon via phone) or to choose which features to add next based on customer surveys. Add to this a comprehensive set of white papers and examples and the result is an absolutely indispensable software for anyone doing empirical work using Excel (financial analysts, scientists, marketing analysts, journalists, office managers, supply chain managers, etc.). **What do you dislike about NumXL?** There's nothing about NumXL I don't like. And whenever there is a feature I'd like to see, the development team of NUMXL tends to be very responsive to suggestions/requests. **Recommendations to others considering NumXL:** Buy it **What problems is NumXL solving and how is that benefiting you?** Enables me to forecast, estimate, and perform all sorts of relatively advanced statistical analyses within Excel and without having to send the data to other statistical software such as R or Stata ### 9. Strong product with solid customer support. **Rating:** 5.0/5.0 stars **Reviewed by:** Calen C. | Project Coordinator, Consumer Goods, Small-Business (50 or fewer emp.) **Reviewed Date:** August 29, 2014 **What do you like best about NumXL?** Very easy to work with, especially being a simple add-on in Excel. I can easily seasonally adjust all data, forecast, and more. The customer support is one of the best I have ever experienced, which has been a huge benefit. I have reached out with questions late on Sunday evenings and have gotten them answered immediately. Now that is customer support! **What do you dislike about NumXL?** Nothing. At first it may seem complex, but the online tutorials and customer support literally walk you thru everything you need to do. **Recommendations to others considering NumXL:** Try the free trial first. Watch the video tutorials and reach out to customer support with any questions. **What problems is NumXL solving and how is that benefiting you?** Working with many years of data for multiple sectors to seasonally adjust, find trends, and even forecast. I have come to realize how easy NumXL makes all of this with an easy to use add-on in Excel, along with top notch video tutorials and customer support. ### 10. Excellent software, excellent support! **Rating:** 5.0/5.0 stars **Reviewed by:** Predrag S. | FX, Capital Markets, Enterprise (> 1000 emp.) **Reviewed Date:** June 29, 2014 **What do you like best about NumXL?** NumXL is a great software. It gives you the opportunity to manage complex calculations in a simple matter (GARCH, EGARCH, ARIMA to name a few) and it is very easy to apply the formulas on large sets of data. Very reasonably priced as well. **What do you dislike about NumXL?** I actually never had any problems using the software and no dislikes. On one occasion I wanted a more thorough explanation of the formulas used and how they handled the data. This was provided to me very quickly by the support staff. **Recommendations to others considering NumXL:** There are many comprehensive guides on YouTube that explain the models and have step-by-step tutorials. If you need further support, you can just contact NumXL and receive very professional support no matter what questions you may have. The program also allows you to customize the output that is sought after. Regarding the support, it is the best I have experienced so far. The staff is very eager to help and offers detailed explanations through email, video conferences etc. They can even take a look at your spreadsheets and suggest changes, adjust problems that have occurred. Mohamad helped me in all my enquiries and was very professional. Very reasonably priced as well. **What problems is NumXL solving and how is that benefiting you?** I used NumXL for volatility modeling with GARCH and EGARCH. The software offers even much more than I have tried so far. ### 11. Fantatsic resource and must have Add-in for someone depending on MS-Excel. **Rating:** 5.0/5.0 stars **Reviewed by:** Vineet T. **Reviewed Date:** June 23, 2014 **What do you like best about NumXL?** Great product with fantastic customer services. User Friendliness is the foremost strength I reckon. Its functions are intuitive and easy to follow. Online tutorials are fantastic and videos are amazing. Customer service is outstanding and very good value for your money overall. I reckon its a strong bridge between excel and any other sophisticated Statistical Software. Pure Statistical software could be expensive and intimidating to use. This one covers most of the high-end stats used generally. I thoroughly recommend it. **What do you dislike about NumXL?** Difficult question to answer. I would have to explore it lot more to something needed. That too if I could. For routine to advance statistical work, this is fantastic. **Recommendations to others considering NumXL:** Though I am still using trial version, however I would happily pay for this service. This is MUST-HAVE add-in in excel. **What problems is NumXL solving and how is that benefiting you?** I am using it for my research work. It has expedited lots of my work. Excel suffers from lots of issues even in simple analysis like Linear regressions. For example, what happens to pairs with missing values? Excel has no way out to such a commonly occurring issue. NumXL does. which makes my coefficients robust. Simple and yet powerful tool. Could not explore lot more, but I am sure ill find lots of hidden treasures in it. ### 12. Excellent, easy to use statistical software **Rating:** 5.0/5.0 stars **Reviewed by:** Adam K. | Refined Products Trader, Oil & Energy, Mid-Market (51-1000 emp.) **Reviewed Date:** June 19, 2014 **What do you like best about NumXL?** The ease with which I can utilize each function in the program and the fact that they come with clear cut examples, explanations and tutorials. Best of all, it is all excel based, which is use extensively in my line of work for time series analysis. The speed at which complex calculations are performed is also a huge plus as far as excel add-ins are concerned (ARMA, Garch, PCA, Fourier). **What do you dislike about NumXL?** Nothing. Mohamad is constantly improving the product and very easy to communicate with from a service/troubleshooting perspective. **Recommendations to others considering NumXL:** I would at least trial the product, go through all the YouTube videos and examples with documentation on the website. Very user friendly product and their support in helping with your more technical questions is always something great to fall back on worst comes to worst. Plus, you're not paying an arm and a leg for it, so that needs to be taken into consideration as well. **What problems is NumXL solving and how is that benefiting you?** I do extensive data analysis and lots of ad-hoc number crunching studies in trading and research with regards to oil and energy markets every day. NumXL has been a tremendous benefit in my line of work, especially taking into consideration what the cost is. ### 13. NumXL examples **Rating:** 5.0/5.0 stars **Reviewed by:** Nigel C. | Director of Business Operations **Reviewed Date:** June 19, 2014 **What do you like best about NumXL?** I really enjoy the tutorials and education that the NumXL team puts together. More examples are always appreciated to fully appreciate these complex topics. Keep up the good work. I like that they have videos and PDF files as well as example spreadsheets that I can download. There is also a numbe rof the videos on YouTube but that is blocked by my company so I have to watch at home. **What do you dislike about NumXL?** I wonder if there is an opportunity for NumXL staff to deliver even more value. I watched the Fourier video as that aspect interests me. What was missing for me at the end of the video was a sense of its application. How can this technique be used? What value is there in the client learning and executing this process? **Recommendations to others considering NumXL:** Try the free trial and review the videos and PDFs. **What problems is NumXL solving and how is that benefiting you?** Time series analysis, forecasting, data analysis, etc. ### 14. value for money **Rating:** 4.5/5.0 stars **Reviewed by:** James D. **Reviewed Date:** November 03, 2014 **What do you like best about NumXL?** great tool for a fraction of the price that you pay for 3rd party software providers **What do you dislike about NumXL?** no dislikes at the moment, it is designed to work well with inherent excel/vba functionality **Recommendations to others considering NumXL:** it is a great tool for modelling if you don't want to pay for an expensive software package. **What problems is NumXL solving and how is that benefiting you?** i create time series models, the benefits is that many of the maths that i need are automated. ### 15. Simply the best econometric Excel add-in on the market. **Rating:** 5.0/5.0 stars **Reviewed by:** Jeffrey S. | Associate Professor of Finance, Higher Education, Enterprise (> 1000 emp.) **Reviewed Date:** June 20, 2014 **What do you like best about NumXL?** NumXL continues to evolve by adding additional functionality, tools and econometric models. The software is easy to use, has excellent model documentation including sample models, and customer support is simply the best that I have ever experienced. When I have had questions, they are answered promptly and effectively. **What do you dislike about NumXL?** I'm not sure there is anything to dislike about NumXL. **Recommendations to others considering NumXL:** Try out the software and don't be afraid to ask Mohamad any questions you might have, technical or otherwise. **What problems is NumXL solving and how is that benefiting you?** Time series econometric and statistical problems related to a variety of problems in financial economics. The greatest benefit of NumXL is access to state of the art econometric models from within Excel. ### 16. Easy to use statistical software great for time series forcasting purposes. **Rating:** 5.0/5.0 stars **Reviewed by:** Jeroen J. | Workforce mgmt & business analist a.i., Management Consulting **Reviewed Date:** July 09, 2014 **What do you like best about NumXL?** The easyness of use is great. I also like the extended youtube tutorials and bootcamps that'll get you up to speed in no time. The customer service is second to none, an example for many around. **What do you dislike about NumXL?** There is not anything I partcularly dislike about this software. **Recommendations to others considering NumXL:** Customer service is great on this product and new releases are frequent, adding new and improved functionality on an ongoing basis. **What problems is NumXL solving and how is that benefiting you?** I mainly use NUMxl for forcasting purposes. Forecasting is made easy and straightforward by this tooling. Saving you lots of time and giving remarkable accuracy. ### 17. Excellent product and exceptional service **Rating:** 5.0/5.0 stars **Reviewed by:** Pete F. | Non-Executive Director, Non-Profit Organization Management, Small-Business (50 or fewer emp.) **Reviewed Date:** June 24, 2014 **What do you like best about NumXL?** Heaps of functionality, very easy to use (even for a non-expert) and a level of customer support that is truly exceptional. **What do you dislike about NumXL?** There's nothing that I've found that I don't like yet. **What problems is NumXL solving and how is that benefiting you?** I'm using it to assist with the creation of trend and seasonally adjusted series for regional economic data. NumXL has made the whole process a lot quicker and more accurate. I'm using it most days so it's saving me a ton of time. ### 18. Excelent software and Superb Service **Rating:** 5.0/5.0 stars **Reviewed by:** Jorge H. C. | Socio Director, Management Consulting **Reviewed Date:** June 18, 2014 **What do you like best about NumXL?** You can apply very sofisticated models for forecasting in Excel, all the calculations are transparent for you and the results are very easy to visualice. Furthermore you get tips and tutorial with examples that are very helpful to decide what is the best model to use. **What do you dislike about NumXL?** So far I have no issues to complain or dislike, Mr Mohamad is continuosly improvement the application. **What problems is NumXL solving and how is that benefiting you?** I am working with diferent inventory management models, in wich forecasting is an important input for the model. Forecasting accuracy is a key for good Inventory Management. NumXL is an excellent tool for this purpose. ### 19. Great Product **Rating:** 5.0/5.0 stars **Reviewed by:** Richard D. | Research, Financial Services, Enterprise (> 1000 emp.) **Reviewed Date:** June 17, 2014 **What do you like best about NumXL?** NumXL's customer service is fanatically good -- this is critical for any end user to come up to speed on the product. I use many Excel add-ins, but what I like about NumXL is its user-friendly design and uncommon functions (like AIC, SBIC, and Fourier transform). I use it every day, and it's a great value. **What do you dislike about NumXL?** There's nothing that I dislike about NumXL. **What problems is NumXL solving and how is that benefiting you?** I do time-series analysis every day, and I'm using NumXL every day. ### 20. A very quick and easy way to undertake time series analysis. **Rating:** 5.0/5.0 stars **Reviewed by:** Verified User **Reviewed Date:** June 19, 2014 **What do you like best about NumXL?** The simplicity of the system and the diversity of tests available with more coming online. I primarily got the system for PCA but have found myself using most of the other options. **What do you dislike about NumXL?** Nothing yet. Outlier treatment will be helpful when it arrives. . **What problems is NumXL solving and how is that benefiting you?** Timeseries analysis of data and modelling. The benefits have been from being able to do these tests quickly on excel data. Without a strong coding background, it has saved a lot of time. ## NumXL Discussions - [Non English excel versions?](https://www.g2.com/discussions/non-english-excel-versions) - 2 comments, 1 upvote - [Can I use NumXL functionality as part of my program?](https://www.g2.com/discussions/can-i-use-numxl-functionality-as-part-of-my-program) - 3 comments, 1 upvote - [Can I use NumXL on a Virtual Machine (VM)?](https://www.g2.com/discussions/can-i-use-numxl-on-a-virtual-machine-vm) - 2 comments, 1 upvote - [Which versions of Excel are compatible with NumXL Pro 1.6](https://www.g2.com/discussions/which-versions-of-excel-are-compatible-with-numxl-pro-1-6) - 1 comment, 1 upvote - [View NumXL pricing details and edition comparison](https://www.g2.com/products/numxl/reviews?section=pricing&secure%5Bexpires_at%5D=2026-05-15+11%3A26%3A56+-0500&secure%5Bsession_id%5D=edcbea0e-8936-45d8-acbe-9087b0f2edc4&secure%5Btoken%5D=77b3b3f782f76072db422b6391d217eb30cc21be27661134b08cf38e3e53118d&format=llm_user) ## NumXL Features **Administration** - Data Sampling - Collaboration **Capabilities** - Data Visualization - Survival Analysis - Risk Data Attributes - Cost Analysis **Methodology** - ANOVA Support - Regression - Time Series Analysis **Generative AI** - AI Text Generation - AI Text Summarization ## Top NumXL Alternatives - [IBM SPSS Statistics](https://www.g2.com/products/ibm-spss-statistics/reviews) - 4.2/5.0 (891 reviews) - [Posit](https://www.g2.com/products/posit-posit/reviews) - 4.5/5.0 (563 reviews) - [Qualtrics Strategy & Research](https://www.g2.com/products/qualtrics-strategy-research/reviews) - 4.4/5.0 (2,911 reviews)