You can most certainly do that...Unless you've been incompetant with your data organisation and scattered PII where it really has no business being. In which case, how about sorting out your poor data practices before worrying about how you can optimise your shipping costs?
Not pii, but personal data, which is more broadly defined in the gdpr than pii is.
Second, I think you're missing the context here. If I need to encryption each log entry that pertains to a user, even if it doesn't contain pii, then adhoc analysis is nearly impossible to do.