Part of the problem is the one-size-fits-all approach with web analytics, when really it shouldn’t be that hard to use a little bit of input to give the data some context, ie “I’m a blog, and my post URLs are x” or “I’m an e-commerce store, and my product URLs are y”, and then you can make much better reports centered around the ‘atomic unit’ of the site, if I can put it that way, which would be much more useful than just focusing on visits and overall averages.
There’s also no doubt a space for more meta-analytics tools too, like you mention, which pull a bunch of different things together. A common exchange format there would be nice. Huge task of making sense of all the disparate data sources though, given the difficulty that currently exists in just making sense of web analytics data.
It’s been surprising how *un*useful I’ve found Google Analytics ‘Intelligence’ feature thus far, as while it’s on the right track, it’s still just not that, well, intelligent, given it can only pick out spikes from the data, with little context, and 99% of the time it’s just noise.
At the end of the day someone still has to ‘read’ the data, and I think making that as easy as possible is probably where the biggest opportunities lie. That said, you’d think with the 3547854785784587 web stats apps out there, we’d be further along in designing these kinds of applications by now

The industry needs a revolution else it will drown itself in data / metrics / reports / whatever it is producing now.

Subhash