Amazon CloudWatch is a comprehensive monitoring and management service offered by AWS, providing a unified view of your cloud and on-premises resources through metrics, logs, and events. It enables you to monitor application performance, respond proactively to operational changes using alarms and anomaly detection, optimize resource utilization, and gain deep insights into your system's health via customizable dashboards. CloudWatch facilitates faster troubleshooting by correlating logs and metrics, improves operational efficiency through automation, and ensures scalability and flexibility to adapt to dynamic cloud environments, all while integrating seamlessly with other AWS services and adhering to security and compliance standards, with pricing based on usage across metrics, logs, alarms, dashboards, and advanced features like Synthetics and RUM.