Observability 2.0 represents a shift from traditional, disparate monitoring tools to a unified approach that leverages structured, high-cardinality event data in a single data store. This model captures rich, raw events with detailed metadata to provide a single source of truth for comprehensive analysis. By storing events in their raw form, it simplifies correlation and supports real-time and forensic analysis and enables deeper insights into complex, distributed systems. This approach allows for high-resolution monitoring and dynamic investigation capabilities. Observability 2.0 prioritizes capturing high-cardinality and high-dimensional data, allowing detailed examination without performance bottlenecks. The unified data store reduces complexity, offering a coherent view of system behavior, and aligning observability practices more closely with the software development lifecycle.