Splunk is a software platform that allows users to gain real-time insights from industrial machine data. It collects, indexes, enriches, and analyzes data from sensors and industrial assets. Splunk helps users monitor equipment performance, detect anomalies, avoid downtime, and optimize manufacturing processes. The presentation demonstrates how Splunk has helped a semiconductor manufacturer improve yields, increase uptime, expand reporting capabilities, and decrease operating expenses by analyzing data from their fabrication facilities.