why MS is not providing inbuilt IIS log analysis tool?
it is sort of surprising that IIS which is widely used is neglected , even IIS forrum does not have any meaning information around this important topic and most users question left unanswered
log parser is pretty old , command line. Studio has lot of bugs
even with Power BI no out of the box dashboards , most ELKs does not provide out of box solution for IIS they do for ngnix/apache