So Much Data, So Little Information

The many projects for greater efficiency, energy management and improved reliability  that comprise Grid Modernization are installing thousands or, in the case of AMI, millions of sources of data in the grid.  How much, or how little of this abundance of data is yielding intended results?  Or any results?  Is data from AMI even used for time of use or interval billing?  How often is AMI data still only used for monthly billing with the interval data available back to the customer?  What would it take for AMI data to be useful for grid control?