LiveSplit

LiveSplit is a popular splitting program used by speedrunners.

Flaw
A critical flaw occurred in this application, although it got less severe in later versions. Some anti-virus engines detected LiveSplit as a virus, and removed critical files. This was of course a false positive, and the files were not malicious at all. It was fixed in Version 1.4 yet Anti-Viruses still detect the OBS plugin as malicious.

Creating Splits
Users can create splits by right clicking the timer and clicking Edit Splits. Here they can determine what category they are running [it will give suggestions from an Internet server] and the game they are running.

They can also determine their checkpoints, which they can display on their stream. It will store their best time and will compare their current run to their personal best [ie. "-2.0" or "+2.0" seconds].

Autosplitter
Some games have a programmable auto-splitter that can be coded. However, very few games support this feature and so far I have not been able to test it.

Importing Splits
Splits created in SplitterZ, WSplit or Llanfair, and can be easily modified and used. However, you cannot save into those file formats. You will have to save into the LiveSplit file type.

Comparison
You can compare to different splits by right clicking and selecting "Compare Against".

Social Media sharing
By right clicking the application and selecting "Share", you can easily share your times on Twitch, Twitter and other social media platforms. You can also attach stream links and detailed information.

Joining Races
By right clicking the application and selecting "Races", you can view open races on SpeedRunsLive. You can also join races and easily navigate SRL. Apparently the feature does not yet work properly, and should not be used.

Binding Keys
By right clicking the application and selecting "Settings", you can trigger global hotkeys and determine them. You can also install the LiveSplit plugin for the streaming software OBS.

Layouts
A great feature of this software is the fact you can configure your own layout specialised for your game or your preferences. You can re-organise the whole splits section, as well as add extra components, these can be found later in the article.

Components
These components can be added in the "Layout" menu, by pressing the plus button.