Using nginx access logs we could able to see API response status, time and group them based on the url.
This is a generic way to set up monitoring for any application.
Grafana loki is an interesting tool to collect logs and it is based on Prometheus format. Its storage efficient compared to ELK because it only indexes metadata compared to indexing entire logs in ELK stack.
This could be a potential SaaS application to monitor the performance of applications in real-time. This will not depend on any programming language.
Note: This topic is not complete yet. I will write a separate blog on how to do it later.
Ref: IsItObservable