This document discusses how companies can develop an effective data strategy to become more data-driven. It emphasizes that a data strategy should target value proposition, culture, processes, people, and technology. It also stresses that successful companies set clear goals for how data will be used, define what success looks like, and ask the right questions of their data. The document provides examples of how companies like AutoTrader and Etsy have transformed their culture to be more data-guided in order to gain competitive advantages.