Yes, Splunk and Paglo both claim to be the "first IT search engine" but in reality I don't perceive us as direct competitors.

Splunk provides indexing and storage (like a database) for IT related events. Logfiles or device detection logs, or any other timeline based textual data can be stored in Splunk for retrieval later – which extends Splunk's use well beyond the IT management vertical. At its core Splunk provides a way to index and search tons of unstructured data, and gives users a way to dynamically apply structure to the searches they do with the product. Splunk also comes with a nice REST interface you can program against which makes it infinitely configurable to a particular application.

While the policies at some enterprises might allow device reports to be sent over the Internet, it would be a real stretch to ask those same companies to send all their sensitive event data to the same service.

As James says, Paglo is more of a management dashboard for my IT devices and processes than it is a search engine for IT event data. Perhaps it's both company's generic use of "IT Search" that confuses people on this point.

Regardless, kudos to the Paglo guys. They have a good looking, useful product that provides real value to the management vertical.