In the ULS logs I found this error which occurs at 2:00 AM:
There are no usage log files available to import with filter 'SV-SP-????????-?????.usage'
I did not notice this before because I was sorting by WebAnalytics.exe but I checked the usual suspects posted on blogs and forums (ex. Service started, service accounts, permissions, etc.)
.usage files are being created and seem to be updated regularly. Ex. it's 11:03 and the last modified time was around 10:30.