There are many tools in market which you can opt for e.g. Splunk, Papertrails, ELK, Graylog.
I find Splunk better then the rest because of the following features:
- Using Splunk you can Monitor the logs.
- Troubleshoot the failure conditions.
- Analyze system performance.
Splunk gives you the edge in terms of On-premise setup, working with any data-type, community for your problems, customer support for better understanding the problem, SaaS setup and also with better documentation.
Splunk is a tool that gives you both on-premise and cloud based setup, there are different versions of Splunk that can be used for different purpose i.e. business and personal.
According to my usage, I find splunk better for analysis and visualization of machine generated data, that too irrespective of the data-type.
Hope this helps you!