This document discusses the need for second generation cloud monitoring tools and outlines the five key elements of effective cloud monitoring: 1) being fast to detect issues within seconds, 2) using analytics and classification for intelligent monitoring, 3) providing unified views across systems instead of fragmented tools, 4) being simple to set up and use without friction, and 5) using a utility-based pay-for-what-you-use pricing model. Current first generation tools are seen as inadequate for growing cloud demands and in need of improvement in these areas.