Very chatty
The platform's logging framework is useful, but it emits a great deal of internal execution detail and is not well optimized for the Apex you actually wrote. Finding your own code in the output is work.
Live on AppExchange
Out-of-the-box logging support for Salesforce — for leadership, for the engineering community, and for business users. Visibility into custom functionality built on the platform, delivered as a trusted AppExchange managed package.
Three specific gaps in Salesforce's own logging.
The platform's logging framework is useful, but it emits a great deal of internal execution detail and is not well optimized for the Apex you actually wrote. Finding your own code in the output is work.
Platform logging is enabled for a specific window rather than run continuously. So it is usually off at the moment the interesting event occurs, and you are reduced to reproducing the problem.
It cannot be narrowed to one component, so it cannot be tuned to the part of the system under suspicion. For managed packages, retrieving logs at all can require Salesforce Support.
LaaS provides out-of-the-box logging and troubleshooting support for developers, packaged as a Salesforce AppExchange managed package. It is intended to help while you are building custom functionality, and again later when you are diagnosing test and production issues.
It is a component-based logging infrastructure that can be tuned at run time, and it can monitor at user, group (profile), and org level.
There are no free lunches. Logging carries its own overhead in CPU, heap memory, and governor limits — the same limited resources as the code being logged. LaaS is tunable precisely so you can spend that budget deliberately rather than everywhere at once.
Any Salesforce platform developer can use the framework directly. Product support teams use it to troubleshoot customer issues, and managed packages gain insight into problems without going through Salesforce Support.
CTOs, VPs, directors, managers
Architects, developers, testers
Users, customers, auditors
Please base any buying decision on current functionality. The roadmap may change in response to user feedback and platform limitations.
The setup guide covers installation, the logging API, configuration, and reading the logs.