Wood Mackenzie trains Lens on data

Firm's vision puts data analytics at clients' fingertips

LONDON, HOUSTON and SINGAPORE, Oct. 2, 2018 /PRNewswire/ — Fresh new design, cutting-edge cloud technology and open-source solutions are the hallmarks of Wood Mackenzie's all-new platform, Lens. The new platform enables the consultancy's natural resources clients to access, analyse and model data in every major commodity, in every market, in ways they have never been able to do before.

"Bringing together our client insight with our industry experts, creative product designers and engineers, Wood Mackenzie (WoodMac) is creating a platform which will be the single destination for all natural resources data and analytics," Neal Anderson, President, Wood Mackenzie, said.

The Lens platform will not only host WoodMac's own data, it can also handle clients' in-house data and that from any other source in the complex worlds of oil, gas, chemicals, metals, mining, power and renewables.

From the outset, WoodMac took a cloud-native, open-source route. Rather than bring in and customise out-of-the-box solutions, WoodMac opted for a fit-for-purpose product development approach, leveraging modern cloud services and open-source technology stacks. This allowed WoodMac to automate processes around data sourcing, gathering, and collation, offering an increased cadence of data delivery for analysis and modelling.

Clients can now access high-quality insights in real time, they can easily recalculate analytical queries and compare commodities throughout the world when they want to, and where they want to.

Today, WoodMac is investing in Lens, which will launch next month, with data covering wells in the Lower 48 US states. It plans to migrate all its data across every commodity it tracks in the months ahead.

Wood Mackenzie Lens harnesses the capabilities of a number of AWS services to provide an intuitive, scalable and secure platform, enabling the continuous delivery of large industry datasets and analytics capabilities that meet customer needs.

About Wood Mackenzie:
Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world's natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie

WOOD MACKENZIE is a trade mark of Wood Mackenzie Limited and is the subject of trade mark registrations and/or applications in the European Community, the USA and other countries around the world.

SOURCE Wood Mackenzie