Nowadays, most of the companies believe that a data – driven business model provides significant competitive advantages. The purpose of this research study is to identify the key success factors for transformation to a data – driven company. First, the main characteristics of a data - driven business and challenges emerging in the transformation were described. Then, the factors, that help to overcome these challenges and lead to a successful data – driven change, were identified based on the qualitative analysis of the data collected through five semi – structured interviews with the managers and data specialists who implemented such initiatives in their companies. The results include the factors related to people, processes, technology and data dimensions in the organizations. These factors can be used as guidelines for the broad range of the companies considering transformation to a data – driven business model and, also, as a reference point for further studies.