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IT leaders are increasingly recognizing the significance of Experience Management, as traditional Service Level Agreements (SLAs) often fail to fully gauge service success. The video discusses Experience Level Agreements (XLAs), which are emerging as a more comprehensive alternative in Service Management. While SLAs have traditionally focused on metrics like transaction success rates and service availability, these indicators may not resonate with customers, as they overlook the complete end-to-end support experience. This discrepancy highlights the limitations of SLAs, exemplified by the concept of the "watermelon effect," where metrics look good on the surface but reveal deeper issues upon closer examination.