WLSDM is a WebLogic monitoring application that allows administrators to monitor WebLogic domains from any device. It enables monitoring of WebLogic MBean metrics and stores historical metric values. Administrators can create alarms and notifications and WLSDM includes features like reports, email/SNMP notifications, and monitoring of backend systems, logs, and JVM resources. Installation is easy by copying the WLSDM file to the domain folder and restarting the AdminServer.