Telemetry and analytics is a spyware. Let me give you an example. Let's say that Windows collects information on which applications were run and how much time they were used. Now let's say there is a competitor to Microsoft that uses Windows with telemetry option.
Even if the data is anonymous, Microsoft can filter it by range of competitor's IP addresses. Then by stuyding the list of used applications they can learn: how many employees the company has, how many of them use IDE (i.e. are developers), how many use Excel (marketing people), how many use social networks and chats (managers), how many man-hours they spend on development, how many DBAs are there, whether anyone works overnight or on weekends, when they have vacations etc. Now tell me it is not a spyware.
And by the way Google has similar powers because they have advertisement and analytics scripts installed on most websites, so they can spy on their competitors too.
UPD: looked through an article [1] and understood that I underestimated Microsoft. They even collect user account identifiers and hardware details. Microsoft knows about your computers more than your sysadmin.
[1] https://docs.microsoft.com/en-gb/windows/configuration/windo...