When doing so we got an unexpected error. There was no info in the logs related to the ID. Initially we didn’t find any data in the .usage log file but after running the two services Usage Data Import and Usage Data Processing and setting them to run every 5 minutes we did get data in the .usage log file.
But no luck. There was still the error when accessing the Web Analytics Report in Site Settings.
However, it turns out there is also a workflow that has to run, the Web Analytics Trigger Workflows Timer Job, and by default this runs once every day. So if you don’t try this the first one or two days after setup there will never be a problem. However, if you want to run this the first day after setup you have to change the schedule for this job or run it manually.
Then there was no more error.