Great log capture and reporting tool
Puntos a favor
Splunk is a very easy solution to implement and customize. You can create custom dashboards and views in order to simplify reporting. These reports can be scheduled to be emailed out regularly that will allow a very hands off approach once set up properly.
Puntos en contra
Getting a good understanding of teh search syntax can take quite a bit of time and some of the pre developed views and apps for the dashboard can be quite expensive.