Formula Bot: our review
Formula Bot started as an Excel formula generator and grew into a real chat-based data analyst: file import, plain-language questions, generated charts and dashboards. It works both as an add-on and as a separate web app.
What we take away from it
What counts in its favor
- States it never uses submitted content to train its own models, and opts out of training with AI providers whenever that option exists.
- Shows the Python, SQL or R code generated behind every analysis: a technical user can check what the AI actually did.
- Works both as an add-on inside Excel and Google Sheets and as a separate web app for deeper analysis.
What counts against it
- The legal publisher, Datasetmatch LLC, appears nowhere under the commercial name: the structure behind the tool stays hard to see for anyone who hasn't read the privacy policy.
- The most popular paid tier bills per user ($29/month) and climbs to $149 per user per month for the Enterprise plan.
- The site publishes neither a DPA nor a security certification (ISO 27001, SOC 2): only an AES-256 encryption statement is highlighted.
A good choice for a one-off formula or an isolated file analysis. Best kept to modest volumes as long as no contractual security document is public.
The facts
- First paid tier
- $18/month — Starter, billed monthly
- Data hosting
- Data in the United States · source
- Categories
- Spreadsheets
- Data verified on
- 30 July 2026
What happens to your data
- Is your data used to train their models?
- No
- Subprocessors
- The privacy policy states it doesn't use submitted content (messages, files, data) to train its own models, and opts out of training with AI providers whenever that option exists. Three model providers are named: OpenAI, Google and Anthropic. A separate clause, specific to the Google API, mentions compliance with the "Google API Services User Data Policy" — an obligation limited to data from that API, distinct from the general no-training clause. Named subprocessors: AWS for hosting and storage, Render for deployment, Bubble.io for the application platform, E2B for sandboxed code execution, Stripe for payments.
- Retention
- On the free plan, conversations and files inactive for more than 60 days are deleted automatically and permanently. On paid plans (Starter, Max, Enterprise), everything is kept as long as the subscription stays active.
Formula Bot in detail
Formula Bot started out as a simple Excel formula generator: describe what you want in a sentence, the tool writes the formula. It has since grown into a real chat-based data analyst, able to import a file and answer plain-language questions about it.
What it actually does
Two uses coexist under the same brand. The first, simpler one, is still the add-on installed in Excel or Google Sheets: type an instruction, the formula appears in the cell. The second, more ambitious one, happens in a separate web app where you import a whole file, ask questions about it and the tool produces charts, summaries and automated dashboards. It always shows the Python, SQL or R code generated behind the scenes, letting a technical user check rather than blindly trust the result.
Why it interests us (or not)
The distinction between the two uses matters for assessing what leaves the company. The add-on only transmits the typed instruction and possibly the cell range involved. The web analysis app, on the other hand, asks you to import the whole file: a payroll spreadsheet dropped into this module goes in full to the vendor's servers, hosted in the United States according to its privacy policy. The no-training promise, however, is spelled out in full and with no apparent scope restriction — which sets this entry apart from a pitfall found elsewhere in this comparison, where such a clause covered only a single connector. See our audit and advisory page for the approach we recommend before handing a whole file to a third-party tool.
Where it falls short
Two reservations to know before rolling the tool out to a whole team.
The first concerns the vendor's structure. The commercial name, Formula Bot, doesn't match the legal entity stated in the privacy policy, Datasetmatch LLC. That's not a sign of neglect — the site has a policy dated July 2026 and an active blog — but it's a small vendor, with no published security certification to date.
The second is billing. The entry tier at $18 a month stays narrow; the most popular plan bills $29 per user per month, and the Enterprise plan climbs to $149. A team of ten on the Max plan quickly tops $290 a month.
Our recommendation
Formula Bot suits anyone who wants to generate complex formulas without writing them by hand, or analyze a one-off file without building a pipeline. For a large team, or a sector that requires a documented security certification before sending any data, it's better to wait for the vendor to publish that kind of guarantee, or to turn to a tool that already does.
Who it's for, and who it isn't
Suited for
- A user who needs complex Excel formulas without writing them by hand, for occasional use
- A small team that wants to analyze a one-off data export without building a pipeline
- A technical profile who wants to check the generated code rather than trust an opaque answer
Not a fit
- A company that requires a published security certification or a signed DPA before sending any data
- A large team: per-user billing at $29 or $149 a month climbs fast beyond a few people
- A need for a French-language interface
Frequently asked questions
- Does Formula Bot replace Excel or Google Sheets?
- Not for everyday use: it's an add-on that installs inside your Excel or Google Sheets to generate formulas. For deeper analysis (file import, dashboards, chat over the data), the tool switches to a separate web app, analytics.formulabot.com, distinct from your original spreadsheet.
- Are my submitted files used to train the AI?
- The vendor states it doesn't use submitted content to train its own models, and opts out of training with the underlying AI providers (OpenAI, Google, Anthropic) whenever that option exists. No independent certification backs this claim to date.
- How much does Formula Bot cost for a team of five?
- The Starter tier is $18 a month, but limited to restricted individual use. The Max plan, the most popular, bills $29 per user per month: for five people, expect about $145 a month before any annual discount.
- What's the difference with Numerous.ai?
- Numerous.ai stays focused on generating text and formulas inside a cell. Formula Bot went further into data analysis: large file import, automated dashboards, code shown for review. The wider scope costs more at the higher tier.
- Do you need to know how to code to use it?
- Not to ask a question or generate a formula. But the tool displays the Python, SQL or R code it produced behind every analysis: a technical profile can review and fix it, which a non-technical profile will have to accept as is.
Alternatives to Formula Bot
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Our sources
- Pricing and plans pageaccessed on 30 July 2026
- Privacy policyaccessed on 30 July 2026
- Excel AI product pageaccessed on 30 July 2026
- Home pageaccessed on 30 July 2026
Prices and hosting terms change often. We recheck them periodically, but the publisher's page remains the only up-to-date reference.