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Papertrail offers a quick to set up log management service that can be easily scaled. It features Full-text search, Message, metadata, even sub-strings. It lets you jump to a time, system, group of systems, or context. You can save searches to reuse (even let coworkers see) and you can get started for free with a 5gb first month bonus.
Splunk doesn’t reveal their pricing on their website. Splunk follows tier-based pricing model. Bigger the license cheaper it is.It basically depends on the volume that you're indexing i.e. how much log data you are
Log Data Analysis Tools Splunk