LLM observability is the discipline of capturing what your large language model actually did on every request: the full prompt, the model's response, any tool calls, evaluation scores, latency, token usage, dollar cost, and safety signals like hallucination or prompt-injection indicators.
It is the foundation underneath every reliable LLM product. Without it, you are debugging in the dark — and you cannot prove to a customer, an auditor, or your CFO what the model is doing in production.