Assume that you have a ASP.NET Web API application and you see lot of visitors reporting issues with the application. You will need to identify issues by implementing Live Monitoring and setup smart alerting to detect anomalies in the data.
You can use Application Insights.
Application Insights is part of Azure Monitor is an Application Performance Management (APM) service for developers which can be used to monitor your LIVE applications.
Application Insights allows the developers and DevOps users can detect the performance anomalies and helps you to diagnose issues to understand what the users are actually doing with-in your application.
Read the Application Insights docs to know more about implementing Live Monitoring in your applications.