As you know, it is recommended to enable the virtual machine boot diagnostics to help gathering information when troubleshooting virtual machine boot issues (or to simply being able to see if the VM is booting up or has crashed with a blue screen).
As you know, the boot diagnostics require the use of a storage account (with some limitations such as premium storage are not supported).
Most of the time, boot diagnostics are simply not enabled or may have been but the storage account has been deleted.
Well, there is new (and quicker) option to enable the boot diagnostics and creating the required storage account at the same time; this option is called Enable with managed storage account – available for both existing VM and during the VM creation process.
This option will get Azure to create the storage account for you while enabling the boot diagnostics; this results in a simpler and quicker way to get it done.
NOTE the managed storage account is not visible while searching for storage account