The Numeric Formatter takes a number and formats it. By default it uses your local separator to display numbers above 999. In the US for example, it would be a comma separator (e.g. 4,294,967) whereas in France it would be a space separator (e.g. 4 294 967).
Additional formatters are also available such as the currency formatter for financial data, the compact formatter for big numbers, the percentages formatter, and the scientific numbers formatter.