Ossec provides (among some other things):
* Log file monitoring, with severity levels, occurence counting, time-based rules and auto-response. This means (for instance) you get to watch your auth.log for failed login attempts and after 10 failures fire a script to ban him, alert sysop by email or have hubot alert your sysops. Or whatever floats your boat.
* File integrity monitoring. Make sure noone's been mucking around with your files. It has real-time support (through inotify), but if you don't want use that, make sure you store the database it keeps off-server for forensics if need be. Pro-tip: FIM and auto-updates are a tad unnerving.
* It can watch command output. You can use that to make sure the `netstat -tnap` output doesn't change, for instance.
* For larger/more compliant instances, it has a client<->server setup available.