As the demand for Large Language Model (LLM) applications grows, Helicone and HoneyHive emerge as leading platforms for LLM observability, each catering to distinct needs. Helicone, an open-source platform, offers a comprehensive suite for LLM lifecycle management, including logging, evaluation, and experimentation, with features like easy integration, caching to reduce API costs, and extensive security options. HoneyHive, while closed-source, is tailored for AI observability with a focus on evaluation-driven development, offering advanced human and automated evaluation tools, though it requires more setup and lacks built-in caching. Helicone stands out for its user-friendly experience and extensive integration options, making it suitable for full observability and cost analysis. In contrast, HoneyHive excels in evaluation and benchmarking, providing robust tools for collaborative AI reliability assessment. Both platforms offer free tiers, encouraging users to explore which best fits their specific use cases.