How can alerts be created in Splunk?

Alerts in Splunk are created by setting specific conditions on search results, enabling users to monitor their data for certain events or thresholds. This functionality is achieved through the alerting feature, where one can define a search query that will run at scheduled intervals or in real-time. Once the search results meet the predefined conditions, various alert actions can be configured, such as sending email notifications, executing scripts, or creating incidents in external systems.

The other options do not correctly represent how alerts are generated in Splunk. Manually reviewing searches does not automate the monitoring process and can become inefficient. Although predefined templates can aid in building searches, they don't inherently create alerts. Lastly, coding custom alerts using Python is not a standard method for alert creation in Splunk, as the platform is designed to handle alerts through its built-in interface and configuration options rather than requiring external scripting.