The concept of observability in software development and monitoring has been debated, with some questioning whether it can be achieved or is a continuous practice. New Relic defines observability as understanding complex systems, but traditional monitoring tools are no longer sufficient due to the complexity of modern systems. To truly understand system behavior, companies need to flexibly query unknown unknowns in dynamic systems, making observability essential for troubleshooting and problem-solving. Observability provides context, visibility, and confidence to minimize time to understand system behavior, reduce downtime, and improve business performance. The study highlights that only a few companies are practicing true observability, with leaders outperforming others in terms of software development, incident resolution, and financial performance.