Log management is the collective processes and policies used to administer and facilitate the generation, transmission, analysis, storage, archiving and ultimate disposal of the large volumes of log data created within an information system. ... Virtually all software applications and systems produce log files.

The ELK Stack is a collection of three open-source products — Elasticsearch, Logstash, and Kibana. They are all developed, managed ,and maintained by the company Elastic. E stands for ElasticSearch: used for storing logs. L stands for LogStash : used for both shipping as well as processing and storing logs.