There is no doubt that application monitoring and troubleshooting will evolve with the shift to modern applications. The only question is: are you ready? Modern applications leverage new architectures such as IaaS, PaaS and microservices and embrace new DevOps and agile processes to drive differentiated customer experiences. These new approaches blur the traditional relationships between discrete technology layers and organizational teams in the interest of accelerating business innovation. The outcome? Modern application management becomes an order of magnitude more difficult. The solution to improving modern application management can be found in one of the most overlooked IT assets: machine data. Machine data consists of oceans of unstructured and semi-structured log files and structured time-series metrics. Managing log files and metrics requires a solution that, unlike today’s home-grown and on- premises packaged solutions, is built from the ground up to scale to the volume, variety and velocity of today’s rapidly proliferating machine data and can unify logs and metrics for unprecedented application visibility. Cloud-native platforms offer the best delivery option as they are designed from the ground up for elasticity, scalability and self-service. The following paper outlines the different ways in which the next generation in machine data analytics can dramatically improve your modern applications performance—and thus your business performance. The five steps to better application monitoring and troubleshooting can help you reduce application downtime, become more proactive and optimize the customer experience.