Cribl Stream is a versatile data observability pipeline tool designed to process, transform, and route machine data from various sources to multiple destinations. The installation process typically involves downloading the appropriate package for your platform, running the installation commands, and then configuring the system through its web-based UI or configuration files. Once installed, users can create pipelines to parse, enrich, and shape their data, leveraging Cribl Stream's extensive library of functions and integrations to optimize data flow and analytics.