Data Observability is an emerging concept that extends from Application Performance Monitoring (APM) and focuses on improving complex data environments by monitoring external outputs, analyzing them, and taking action based on the insights gained. It emphasizes three key elements: monitor, analyze, and act. The approach complements or exceeds existing technologies in Compute Performance Monitoring, Data Quality and Governance, and Data Pipeline Management. By observing everything and engineering only as needed, Data Observability can help manage complex data operations more effectively and efficiently.