I think a literal translation of "bog" is "sfagneto" or "torbiera"? So, imagine walking through a bog, and how doing so can be so slow that you can get stuck in the mud. You get bogged down. So in your example, the same idea is applied to conducting an analysis: there's a risk of paying attention to the wrong things, and going more slowly than you should.

"Bogged down" is an idiom meaning "preventing progress" or "preventing action" Some examples would be "The student was so bogged down with homework, he was unable to hang out with his friends" "The teacher was so bogged down with the one phrase, that he failed to complete the lesson" "The company board was so bogged down with the details, they were unable to see the big picture." hope this helps :)

It means to spend longer than you would like on a difficult topic. So surveying trends in detail may seem at first to be necessary but it could take a long time. The benefit from such surveys may be too small to justify the amount of time they take.