Elasticsearch is a really scalable solution that can fit a lot of needs, but the bigger and/or those needs become, the more understanding & infrastructure you will need for your instance to be running correctly. Elasticsearch is not problem-free - you can get yourself in a lot of trouble if you are not following good practices and/or if are not managing the cluster correctly. Licensing is a big decision point here as Elasticsearch is a middleware component - be sure to read the licensing agreement of the version you want to try before you commit to it. Same goes for long-term support - be sure to keep yourself in the know for this aspect you may end up stuck with an unpatched version for years.
I recommend Splunk on-call is more suited where there are high incident queues; multiple teams need to be involved in handling a P1 severity issue. Multiple levels of escalation are needed environment where automated action is required. I recommend the solution for large-scale & medium-scale business units. For small-scale business units, I see the functional value is less.
As I mentioned before, Elasticsearch's flexible data model is unparalleled. You can nest fields as deeply as you want, have as many fields as you want, but whatever you want in those fields (as long as it stays the same type), and all of it will be searchable and you don't need to even declare a schema beforehand!
Elastic, the company behind Elasticsearch, is super strong financially and they have a great team of devs and product managers working on Elasticsearch. When I first started using ES 3 years ago, I was 90% impressed and knew it would be a good fit. 3 years later, I am 200% impressed and blown away by how far it has come and gotten even better. If there are features that are missing or you don't think it's fast enough right now, I bet it'll be suitable next year because the team behind it is so dang fast!
Elasticsearch is really, really stable. It takes a lot to bring down a cluster. It's self-balancing algorithms, leader-election system, self-healing properties are state of the art. We've never seen network failures or hard-drive corruption or CPU bugs bring down an ES cluster.
To get started with Elasticsearch, you don't have to get very involved in configuring what really is an incredibly complex system under the hood. You simply install the package, run the service, and you're immediately able to begin using it. You don't need to learn any sort of query language to add data to Elasticsearch or perform some basic searching. If you're used to any sort of RESTful API, getting started with Elasticsearch is a breeze. If you've never interacted with a RESTful API directly, the journey may be a little more bumpy. Overall, though, it's incredibly simple to use for what it's doing under the covers.
We've only used it as an opensource tooling. We did not purchase any additional support to roll out the elasticsearch software. When rolling out the application on our platform we've used the documentation which was available online. During our test phases we did not experience any bugs or issues so we did not rely on support at all.
VictorOps support has proven excellent for us. Because it is such a widely used tool, there is a lot of documentation on usage, and a large community of users to lean on. Also, many engineers have had experience working with VictorOps already, and the tool is so easy to setup / manage that much support isn't really necessary.
As far as we are concerned, Elasticsearch is the gold standard and we have barely evaluated any alternatives. You could consider it an alternative to a relational or NoSQL database, so in cases where those suffice, you don't need Elasticsearch. But if you want powerful text-based search capabilities across large data sets, Elasticsearch is the way to go.
Splunk On-Call integrates better with our Splunk Cybersecurity and Reporting products due to the same family tree of the same eco system. We were previously using built-in on-call from individual applications and while adequate, they were difficult to manage and support SLA varied greatly across different applications. In addition we also used xMatters which did not integrate well with SAP products nor Citrix products so we were still using more than a single on-call product which was solved by implementing Splunk On-Call
We have had great luck with implementing Elasticsearch for our search and analytics use cases.
While the operational burden is not minimal, operating a cluster of servers, using a custom query language, writing Elasticsearch-specific bulk insert code, the performance and the relative operational ease of Elasticsearch are unparalleled.
We've easily saved hundreds of thousands of dollars implementing Elasticsearch vs. RDBMS vs. other no-SQL solutions for our specific set of problems.
