Given the large number of activities occurring in a live system, the number of events that the kernel emits can be overwhelming (in terms of the amount of data, the processing requirements, and the resources needed to store it). But you can easily control the amount of data emitted.
Specifically, you can:
Once the data has been collected by the data-capture utility (tracelogger), it can then be analyzed. You can analyze the data in real time or offline after the relevant events have been gathered. The System Analysis tool within the IDE presents this data graphically so you can see what's going on in your system.