With EPiServer CMS cloud (aka DXP) , you get Azure Application Insights (now called Azure monitor) out of the box. This allows you to query things like how long requests took, which generated errors, how long dependencies took (e.g. api calls made by the server to other systems) etc. You can also include and cross reference with the load on your managed infrastructure (CPY/Memory/DB response times etc). These can be queried dynamically by drag/drop, and you can pick things like 95th percentile, average, min/max response times etc. You can even add your own custom events, dashboards, alerts etc.
What is the equivalent AEM cloud? The Adobe sales team promised NewRelic, then withdrew this after the contract was signed. What is the alternative solution they provide? how does everyone do this currently?
We could FTP the logs for each day, but this stone age. We could also do client side logging to something like NewRelic, but this only gives half the picture.
You can forward the logs to your own Splunk server. See  for more details:
Quote: Customers who have Splunk accounts may request via customer support ticket that their AEM Cloud Service logs are forwarded to the appropriate index. The logging data is equivalent to what is available through the Cloud Manager log downloads, but customers may find it convenient to leverage the query features available in the Splunk product.