I have a few suggestions:
Open ISA Management
1) Under Monitoring Configuration/Logs, right click on a component, Select File and Choose W3C extended log file format. This is tab delimited and you can open this on excel (on import wizard, select delimited, and tab).
2) You may not read the log file in its raw format. you can schedule a report job under Monitoring configuration/Report Job to generate for you summarized reports based on the log files. You can view these reports under Monitoring/Reports.
3) You can create a SQL or Access database with the fields you want to have in your log. Instead of selecting a File for Log storage format, you can insert it into a database. You can use this database for special queries.
hopethis helps.