Spectral analysis plays an important role in detection of damage in structures and deep learning. The IEEE Std 754TM floating-point format (IEEE 754 for short) is supported by most major hardware vendors for “normal” floats. However, it has several limitations. The positTM format has been proposed as an alternative to IEEE 754. The choice of a floating-point format plays a crucial role in determining the accuracy and performance of spectral analysis. Previous work has attempted to evaluate posit format with respect to accuracy and performance. The accuracy of the posit has been established over IEEE 754 for a variety of applications. For example, our analysis of the Fast Fourier Transform – a critical component of spectral analysis – shows 2x better accuracy when using a 32-bit posit vs. a 32-bit IEEE754 format. For spectral analysis, 32-bit posits are substantially more accurate than 32-bit IEEE 754 floats. Although posit has shown better accuracy than IEEE 754, a fair evaluation of posit with IEEE 754 format using a real hardware implementation has been lacking so far. A software simulation of posit format on an x86 CPU is about \(\mathbf {69.3\times }\) slower than native IEEE 754 hardware for normal floats for a Fast Fourier Transform (FFT) of \(\mathbf {2^{28}}\) points. We propose the use of a software-defined dataflow architecture to evaluate performance and accuracy of posits in spectral analysis. Our dataflow architecture uses reconfigurable logical elements that express algorithms using only integer operations. Our architecture does not have a floating point arithmetic unit, and we express both IEEE 754 and posit arithmetic using the same integer operations within the hardware. On our dataflow architecture, the posit format is only \(\mathbf {1.8\times }\) slower than IEEE 754 for a Fast Fourier Transform (FFT) of \(\mathbf {2^{28}\approx 268}\) million points. This performance is achieved even though the number of operations for posit is almost \(\mathbf {5\times }\) higher than IEEE 754. With this implementation, we empirically propose a new lower bound for the performance of posit compared to IEEE 754 format.