Why is elk better than splunk?

I'm curious to understand why some people might argue that elk is a better choice than Splunk for log management and analysis. Could you elaborate on the key features and advantages of elk that make it stand out from Splunk? Is elk more cost-effective, easier to use, or does it offer better performance and scalability? Additionally, are there any specific industries or use cases where elk might be particularly well-suited compared to Splunk? I'm looking forward to hearing your insights on this topic.