For those of us trying to make the most of business data, it used to be a sufficient metaphor to describe the profusion of machine data as “drinking from a fire hose.” Even this analogy is no longer adequate. Now, it’s more like drinking from a waterfall. One thing is certain: what’s in that waterfall is worth a lot more than water—and companies like Splunk have been helping customers pan for proverbial gold for close to a decade now.