We had a representative from HouseCanary speak at our Residential Symposium last year in Dublin, CA.
It was a very good presentation. Their product is an AVM (but not your father's AVM) that tracks a number of different demographics (not just home values). For certain users, it can be a valuable analytical tool.
It isn't a substitute for an appraisal but is an alternative valuation tool which can work for certain situations.
They are working on (and maybe have created already) a tool which is designed to assist appraisers; not valuation analysis but market analysis.
Naturally the rep spoke about HouseCanary's specific product, but the presentation was more about how information/data is being collected, integrated, and analyzed for market analysis purposes.