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Energy · head to head

Novity vs Wood Mackenzie Lens

Novity logo

Novity

Energy

Hybrid physics and machine learning prognostics that estimate remaining useful life for process equipment

From
On request
Rated
-
Full reviewWebsite
Wood Mackenzie Lens logo

Wood Mackenzie Lens

Energy

Subscription research data and analytics covering oil, gas, power, renewables and mining assets

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Novity novity is a small venture-backed company with a strategic investor rather than a profitable business, so continuity risk is real and the Tokyo Gas investment signals a likely eventual acquisition that would reset the roadmap.; Wood Mackenzie Lens licensing is per named seat and per dataset, so sharing a login across an analyst team breaches the contract and licensing the team properly multiplies the fee rather than adding to it.
  • They diverge on capability: Novity covers TruPrognostics engine, Wood Mackenzie Lens covers Upstream asset data.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Novity and Wood Mackenzie Lens actually diverge.

Attributes where Novity and Wood Mackenzie Lens differ
AttributeNovityWood Mackenzie Lens
PlatformsWeb, CloudWeb, API

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Energy).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Novity

  • TruPrognostics engine
  • Cold-start modelling
  • Fault mode diagnosis
  • Remaining useful life
  • Existing sensor reuse
  • Recommended actions
  • Historian connectors
  • Asset class libraries

Only in Wood Mackenzie Lens

  • Upstream asset data
  • Power and renewables
  • Metals and mining
  • Gas and LNG
  • Energy transition scenarios
  • Emissions data
  • Lens Direct
  • Scenario and portfolio tools

What people use each for

The jobs each tool is most often brought in to do.

Novity

  • A gas processing plant that needs a defensible time-to-failure number before deferring a turnaroundnot Wood Mackenzie Lens
  • An LNG terminal with critical compressors and no run-to-failure history to train a conventional modelnot Wood Mackenzie Lens
  • A wastewater operator whose existing vibration alarms are ignored because they carry no severity or horizonnot Wood Mackenzie Lens
  • A generator operator supplying data centre load where an unplanned trip carries contractual penaltiesnot Wood Mackenzie Lens

Wood Mackenzie Lens

  • A corporate development team screening acquisition targets against independent asset economicsnot Novity
  • A lender or investor testing a project sponsor case against third-party cost and production estimatesnot Novity
  • A strategy team building long-term scenarios that need consistent cross-commodity assumptionsnot Novity
  • A trading or origination desk that needs asset level supply data pulled into its own models through the APInot Novity

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Novity

  • Novity is a small venture-backed company with a strategic investor rather than a profitable business, so continuity risk is real and the Tokyo Gas investment signals a likely eventual acquisition that would reset the roadmap.
  • Physics-based models must be configured per equipment class, so each new asset type is an engineering engagement rather than a configuration screen, and rollout speed is limited by Novitys own capacity.
  • Prognostics depend on the quality and sampling rate of your historian data; plants recording ten-minute averages will not get useful remaining-useful-life estimates without new instrumentation.
  • Nothing about pricing is published and there is no self-service entry point, so evaluation always starts with a sales-led pilot on a handful of assets.
  • The deployment footprint is concentrated in oil and gas, LNG and water, so reference customers and pre-built asset models outside those industries are limited.

Wood Mackenzie Lens

  • Licensing is per named seat and per dataset, so sharing a login across an analyst team breaches the contract and licensing the team properly multiplies the fee rather than adding to it.
  • The content is analyst-modelled rather than operator-reported, so asset economics and reserve figures are estimates and can differ materially from what the owner of the asset publishes.
  • Modules are split by commodity and by region, and a question that spans gas and power, or Americas and EMEA, can require two or three separate subscriptions to answer.
  • Content refresh follows the research publication calendar, so individual asset records can lag a transaction or a project decision by a quarter or more, which matters on live deals.
  • Ownership passed from Verisk to Veritas Capital in 2023, so buyers signing multi-year terms are contracting with a private equity holding whose plans for pricing and packaging are not public.

Pricing, plan by plan

Novity

On request
  • TruPrognostics$undefined/year
    • Quoted per asset class and monitored equipment count
    • Model configuration and commissioning quoted as a project
    • Typically an annual subscription tied to a pilot then a rollout

Wood Mackenzie Lens

On request
  • Lens subscription$undefined/year
    • Quoted per dataset and per named user
    • Regional variants of a module are priced as separate subscriptions
    • Lens Direct API access licensed on top of platform access

Which should you pick?

Choose Novity if

  • You need truprognostics engine.
  • You work on Web, Cloud.
  • You also want cold-start modelling.
Novity review

Choose Wood Mackenzie Lens if

  • You need upstream asset data.
  • You work on Web, API.
  • You also want power and renewables.
Wood Mackenzie Lens review

Questions people ask

Is Novity or Wood Mackenzie Lens better?
Neither clearly leads. Novity starts at On request and Wood Mackenzie Lens at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Novity or Wood Mackenzie Lens?
Novity starts at On request and Wood Mackenzie Lens at On request.
Does Novity or Wood Mackenzie Lens run on more platforms?
Novity runs on Web, Cloud. Wood Mackenzie Lens runs on Web, API.
What is Novity best used for?
Novity is most often used for a gas processing plant that needs a defensible time-to-failure number before deferring a turnaround, an lng terminal with critical compressors and no run-to-failure history to train a conventional model, a wastewater operator whose existing vibration alarms are ignored because they carry no severity or horizon, a generator operator supplying data centre load where an unplanned trip carries contractual penalties. Of those, a gas processing plant that needs a defensible time-to-failure number before deferring a turnaround and an lng terminal with critical compressors and no run-to-failure history to train a conventional model are not what Wood Mackenzie Lens is typically brought in for.
What can Novity do that Wood Mackenzie Lens cannot?
Novity covers TruPrognostics engine, Cold-start modelling, Fault mode diagnosis, Remaining useful life. Wood Mackenzie Lens covers Upstream asset data, Power and renewables, Metals and mining, Gas and LNG.

Answered from the vendors’ own pages

Novity: What does Novity actually output?

A named failure mode and an estimated remaining useful life with a confidence band, not just an anomaly alert.

Wood Mackenzie Lens: Am I buying software or research?

Research. Lens is the delivery platform for Wood Mackenzie analysis, and the analysis is what the price reflects.

Novity: Do we need failure history to train it?

No. The physics component is what lets it produce useful prognostics on equipment with little or no run-to-failure data.

Wood Mackenzie Lens: Who owns Wood Mackenzie?

Veritas Capital, which acquired it from Verisk in 2023.

Novity: Do we need new sensors?

Often not. It reads from your existing historian, but low sampling rates or missing measurements can require additional instrumentation.

Wood Mackenzie Lens: Can a team share one licence?

No. Licences are per named user, and sharing breaches the subscription terms.

Novity: Who backs the company?

It was spun out of Xerox PARC and took a strategic investment from Acario Innovation, the venture arm of Tokyo Gas, in 2026.

Wood Mackenzie Lens: Can I get the data into my own models?

Yes, through Lens Direct, which is licensed separately from platform access.

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