I encourage anyone in a position to make purchases or who has a say in what engineer labor focuses on is to get a copy of Horngren's Cost Accounting. It should make my position very clear!
FWIW, there is indeed capitalization occurring when an organization incorporates analytics, even the "measure all the things" approach, but the question is, once the total costs are discovered, does the return outweigh the expenditure?
These things cannot be considered in isolation, especially when using advanced approaches like Activity-Based Costing, something that is basically a requirement for a product or service that is fundamentally software in nature. There is too much complexity to treat managerial accounting in a software setting like a steel mill.
The reason why this doesn't happen is YOLO business management fueled by the casino that is VC backed companies. But we are in a rapidly maturing industry where margins are slimming and costs need to be reigned in, especially in publicly traded companies where investors will punish a company that makes wildly off target financial projections discovered when cash flows are reported in the following quarters.
I encourage everyone in all management positions to start thinking about and tracking actual costs. Not story points, not customer use patterns, but cold hard cash!