In order to effectively use data, companies must ensure that it is accurate, accessible, and actionable.
Accurate - For data to be useful, you have to be able to trust in its correctness. This can be accomplished by clearly defining the pertinent metrics and by making the underlying calculations widely available.
Accessible - Data has to be made accessible to all stakeholders to avoid information bottlenecks between parties.
Actionable - You must identify the underlying drivers behind the results you derive in order for them to have meanings and in order for you to use them to improve your business.
When these criteria are not satisfied, data cannot be leveraged to the fullest extent because stakeholders will not be able to trust it is correct or take action to minimize business inefficiencies.